activities. This paper demonstrates that uncertainty may induce similar costs. This argument is illustrated in the context of … and intermediate products used in domestic production. The present paper shows that uncertainty acts as an implicit tax on …, uncertainty inhibits the formation of new activities. Unlike the tariff, however, uncertainty does not benefit the government with …

economy make decisions on a weekly frequency and face shocks which display time-varying uncertainty. Simulations reveal that …

model implies that political uncertainty commands a risk premium whose magnitude is larger in weaker economic conditions …. Political uncertainty reduces the value of the implicit put protection that the government provides to the market. It also makes …

a preference for early resolution of uncertainty. This occurs as rational belief updating generates subjective long …