Abstract:

This study focused on the concept of uncertainty in the economy, assessed the uncertainty criteria created after the 2008/2009 global financial crisis and studied the macroeconomic effects of uncertainty. The concept of uncertainty has gained economic content with Cantillon, but the traditional economy has evolved in the framework of models established under the full knowledge assumption and uncertainty has been neglected. Knight and Keynes described uncertainty as an unmeasurable concept in their work "Risk, Uncertainty and Profit" and "Review on Probability" in 1921. However, interest in the concept of uncertainty has decreased since the 1950s with the increased use of mathematical models in the economy. In the 2008/2009 global financial crisis, uncertainty emerged from various aspects and increased interest in the concept of uncertainty. Many studies conducted after the crisis have created different uncertainty criteria, and the impact of uncertainty on the economy has been examined.

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