The market price of fiscal uncertainty

Alvarez, 2004, Using asset prices to measure the cost of business cycles, Journal of Political Economy, 1223, 10.1086/424738 Anderson, 2003, A quartet of semigroups for model specification, robustness, prices of risk, and model detection, Journal of the European Economic Association, 1, 68, 10.1162/154247603322256774 Bansal, 2004, Risk for the long run: a potential resolution of asset pricing puzzles, The Journal of Finance, 59, 1481, 10.1111/j.1540-6261.2004.00670.x Barillas, 2009, Doubts or variability?, Journal of Economic Theory, 144, 2388, 10.1016/j.jet.2008.11.014 Bidder, R., Smith, M.E., January 2011. Robust Control in a New Keynesian Model. Comin, 2006, Medium term business cycles, American Economic Review, 96, 523, 10.1257/aer.96.3.523 Davig, 2010, Unfunded liabilities and uncertain fiscal financing, Journal of Monetary Economics, 57, 600, 10.1016/j.jmoneco.2010.05.007 Dotsey, 1990, The economic effects of production taxes in a stochastic growth model, American Economic Review, 80, 1168 Ferrière, A., Karantounias, A.G., 2011. Government Expenditures and Taxes Under Ambiguity. Federal Reserve Bank of Atlanta. Mimeo Griliches, 1990, Patent statistics as economic indicators: a survey, Journal of Economic Literature, 28, 1661 Hansen, 1991, Implications of security market data for models of dynamic economies, Journal of Political Economy, 99, 225, 10.1086/261749 Hansen, 2007 Karantounias, A.G., 2011. Doubts About the Model and Optimal Taxation. Federal Reserve Bank of Atlanta. Mimeo. Karantounias, A.G. Managing pessimistic expectations and fiscal policy. Theoretical Economics, forthcoming. Leeper, 2010, Dynamics of fiscal financing in the United States, Journal of Econometrics, 156, 304, 10.1016/j.jeconom.2009.11.001 Lucas, 1987 Ludvigson, 1996, The macroeconomic effects of government debt in a stochastic growth model, Journal of Monetary Economics, 38, 25, 10.1016/0304-3932(96)01271-8 Lustig, H., Van Nieuwerburgh, S., Verdelhan, A., 2010. The Wealth-Consumption Ratio. UCLA Working Paper. Pastor, L., Veronesi, P. Uncertainty about government policy and stock prices. Journal of Finance, forthcoming. Pastor, L., Veronesi, P., 2011. Political Uncertainty and Risk Premia. University of Chicago Working Paper. Romer, 1990, Endogenous technological change, Journal of Political Economy, 98, 71, 10.1086/261725 Schmitt-Grohe, 2007, Optimal, simple, and implementable monetary and fiscal rules, Journal of Monetary Economics, 54, 1702, 10.1016/j.jmoneco.2006.07.002