This paper analyses the formation of international environmental agreements (IEAs) under uncertainty, focusing on the … of IEA formation when countries are risk neutral and another that explores the implications of uncertainty and risk …

technological uncertainty favors taxes over cap and trade. Weitzman models a flow pollutant, but greenhouse gases are persistent …

This paper investigates the effects of uncertainty on the macro economy by replicating its micro effects on individual … the two scenarios through the empirical macroeconomic uncertainty index. The higher the macroeconomic uncertainty is, the … appropriate level of ambiguity aversion outperforms the benchmark model with no uncertainty in fitting the US output growth rate …

We examine the impact of uncertainty on employment dynamics. Alternative measures of uncertainty are constructed based … stock price index, and fuel prices. Our results indicate that greater uncertainty has a negative impact on growth of … non-existent or weaker. Our results suggest that to truly understand the effects of uncertainty on employment dynamics, we …

uncertainty on firms' decisions and market outcomes. We construct alternative measures of uncertainty based on survey of … index, and fuel prices. Our results indicate that greater uncertainty has a negative impact on growth of employment and the … generally non-existent or weaker. Our results suggest that to truly understand the effects of uncertainty on firms' decisions …

We introduce a “smart” cap and trade system that eliminates the welfare costs of asymmetric information (“uncertainty …

forecasting accuracy significantly. Higher uncertainty is found to increase the leverage and macro effects from credit and … commodity markets on stock market realized volatility. Specifically, Economic Policy Uncertainty is shown to be one of the main …

Macroeconomic uncertainty affects the subjective distribution of individual expectations. Using four panel datasets, we … document the effects of macro uncertainty on the mean expectation (first moment) and subjective uncertainty (second moment) of … income forecasts. We find that macro uncertainty reduces the mean expectation of income when using professional forecasters …

We develop a theoretical framework to explain firms’ offshoring decisions in the presence of uncertainty. This model …