We propose a daily index of time-varying stock market uncertainty. The index is constructed
after first removing the common variations in the series, based on recent advances in the …

During the global financial crisis of 2008–2009, both advanced and emerging countries
have implemented significant easing policies on monetary and fiscal fronts. Yet, the …

We probe the scope for reacting to house prices in simple and implementable monetary
policy rules, using a New Keynesian model with a housing sector and financial frictions on …

Purpose The purpose of this paper is to construct a frequency-domain framework to study
the asymmetric spillover effects of international economic policy uncertainty on China's stock …

This paper investigates how the presence of pervasive financial frictions and large financial
shocks changes the optimal monetary policy prescriptions and the estimated dynamics in a …

We explore the procyclicality of monetary policy decisions towards the financial cycle in the
1995-2015 period on a sample of seven central banks. Using the real interest rate gap and …

How does uncertainty affect the costs of raising finance in the bond market and via bank
loans? Empirically, this paper finds that heightened uncertainty is accompanied by an …

Macroeconomics must take radical uncertainty into account, if it aims at contributing to the
solution of serious real-world problems such as climate change. Allowing for radical …

This article uses historical US inflation data covering over two centuries to examine the
impact of the establishment of the US Federal Reserve on average US inflation and inflation …

This paper examines whether the five BRICS countries share similar business cycles and
determines the probability of any of the countries moving from a contractionary regime to an …