In this paper we offer an analysis of the effects of uncertainty about future tax policy on irreversible investment …. The main message of the paper is that investment is not much affected by the degreee of tax policy uncertainty. This is … that reducing tax policy uncertainty is probably no magic bullet to increase private investment spending …

the excess return with a special tax rate. There is no trade-off between risk allocation and efficiency in intertemporal … risk-shifting effect. …

not only to income uncertainty but also to policy uncertainty. …

This paper analyses the impact of exchange rate uncertainty upon the pattern of investment in different exchange rate …

the incentives for governments for labor market reform increase with the uncertainty that is involved in the …

The paper studies the interaction between cyclical uncertainty and investment in a stochastic real option framework … of the link between cyclical uncertainty and investment is quantified using simulations of the model. The chief … shows that macroeconomic risk acts as an important deterrent to investments. …

The importance of capital loss offset provisions in a world of risk is well documented in the tax literature. However …. Results show that when the government and private sector are equally efficient in handling market risk, welfare losses owing … to the absence of offset provisions could be substantial. Under plausible assumptions about attitudes towards risk and …