The Price of Political Uncertainty: Theory and Evidence from the Option Market

By Bryan T. Kelly, Ľuboš Pástor, Pietro Veronesi. 2014

702 citations recorded by the source corpus.

Subfields: Economics and Econometrics, Finance

View Paper: https://www.semanticscholar.org/paper/81bebc65998dd7ddb18419d27fa71160091cd943

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Citations in the corpus

What Affects Innovation More: Policy or Policy Uncertainty? (2017, unknown): “and Wolfe (2015)), corporate venture capital (Chemmanur, Loutskina, and Tian (2014)), and private rather than public equity ownership (Lerner et al. (2011), Chen et al. (2016)) promote innovation. Other studies examine the effects of product market competition, bankruptcy laws, general market condit”
Political Uncertainty and Cost Stickiness: Evidence from National Elections around the World (2020, background): “Our paper also responds to Kelly et al.’s (2015) call for research on the”
Political Cycles and Stock Returns (2020, unknown): “While this fact is not predicted by the model presented here, it is predicted by the models of Pástor and Veronesi (2012, 2013) and Kelly et al. (2016).”
Partisan conflict and private investment (2015, unknown): “The effects of political news on economic outcomes have been studied by Pastor and Veronesi (2013) and Kelly, Pastor, and Veronesi (2013).”
Aggregate and Idiosyncratic Political Risk: Measurement and Effects (2016, unknown): “Mounting evidence suggests that risk and uncertainty about these shocks also affect macroeconomic outcomes in developed economies (Kelly et al. (2016); Baker et al. (2016)).”
Global Political Uncertainty and Asset Prices (2019, methodology): “…uncertainty commands a risk premium, the current body of empirical work demonstrates that political uncertainty affects the pricing of a variety of asset classes in domestic settings (e.g., Brogaard and Detzel 2015; Gao and Qi 2013; Kelly, Pástor, and Veronesi 2016; Liu, Shu, and Wei 2017).”