theory-based measure of policy uncertainty. Our novel approach using observable trade policies allows us to estimate the …

returns volatility measure of uncertainty for a large panel of quoted UK companies, we find a similar interaction effect in …

theory-consistent measure of TPU and estimate that it can explain between 22-30% of Chinese exports to the US after WTO …

trend from the cycle. The results are mildly supportive of the OC theory. Demand shocks tend to have a negative impact on …

Political risk is widely present in developing but also in developed countries, and stems from a variety of sources …. The objective of this paper is twofold. First, we develop a theoretical model to investigate the impact of political risk … on irreversible investment. Second, we apply our model to an analysis of the risk of separation of the province of Quebec …

investment funds traces out a mean-variance tradeoff for the growth rate of the economy. In particular, the volatility of these … funds dissuades risk averse agents from risky entrepreneural activities. This result opens up the possibility that some … and volatility. …

to farmer investment is uninsured risk: when provided with insurance against the primary catastrophic risk they face … basis risk associated with the index insurance, and with imperfect trust that promised payouts will be delivered. …

shocks. Financial institutions can only obtain their funds by paying an interest rate above the risk-free rate, and this risk …

Cross-country evidence is presented on resource dependence and the link between volatility and growth. First, growth … depends negatively on volatility of unanticipated output growth independent of initial income per capita, the average … growth. Second, the adverse effect of resources on growth operates primarily through higher volatility. The positive effect …