quantifying the impact of uncertainty on macroeconomic dynamics based on the premise that uncertainty causes economic activity to …

of IEA formation when countries are risk neutral and another that explores the implications of uncertainty and risk …This paper analyses the formation of international environmental agreements (IEAs) under uncertainty, focusing on the … role of learning and risk aversion. It bridges two strands of literature: one focused on the role learning for the success …

by the presence of uncertainty about the committee members' output objective. We show how this need for conservatism …

The paper examines the monetary-fiscal interactions in a monetary union model with uncertainty due to imperfect central … bank transparency. We first show that monetary uncertainty disciplines fiscal policymakers and thereby reduces taxes … uncertainty is mitigated. As a consequence, monetary union enlargement may lead to a more aggressive fiscal stance in some member …

Using firm and industry data, we establish two facts: (i) Uncertainty about demand conditions not only reduces export … regularities by developing a new firmbased trade model wherein managers are risk averse. Higher volatility induces the reallocation …

Tax uncertainty is often claimed to be harmful for investments. Capital taxes, such as property and wealth taxes, are … particularly exposed to tax uncertainty. Capital tax uncertainty emerges from expected tax reforms, the unclear outcome of future … stochastic taxation contribute to overall uncertainty and may significantly affect investment decisions. Hitherto, it is unknown …

We analyze a psychologically-based model of voter turnout in an election with common value and uncertainty. Our model …

We study the importance of uncertainty and public finance to the welfare ranking of three environmental policy … revenues finance public abatement. When the main source of uncertainty is economic, the most efficient recipe is to levy … pollution taxes and use the collected tax revenues to finance public abatement. However, when environmental uncertainty is the …