impact of uncertainty and real options on the decision of working time, i.e. we examines the determinants of employment and …

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 …

Does increased policy uncertainty dampen investment plans of firms? We provide direct evidence on this question by … induced policy uncertainty have revised their investment plans differently from those that did not perceive an increase in … uncertainty. We find strong evidence that an increase in policy uncertainty does lead firms to reduce their investment plans. As …

premium. Key for this result are endogenous fluctuations in uncertainty which induce procyclical variations in agent’s nowcast …

) to estimate forecast uncertainty, shocks and discord using information framework, and compare these with moment … ex ante "news" or "uncertainty shocks" in real time, and find that this 'news' is closely related to revisions in … forecast means, countercyclical, and raises uncertainty. Using standard vector auto-regression analysis, we confirm that …

The current paper broadens the understanding of the role played by uncertainty in the context of macroeconomic … fluctuations. It focuses on the implications of uncertainty shocks for indicators that tend to precede financial crises. In an … empirical analysis we show for a set of four euro area countries that negative uncertainty shocks, while boosting economic …

-specific) uncertainty and offers ten main takeaways. The second part reviews contributions on the fast-growing strand of the literature … focusing on the macroeconomic effects of uncertainty spillovers and global uncertainty. The last part proposes a novel measure … of global financial uncertainty and shows that its unexpected variations are associated to statistically and economically …

How does economic uncertainty affect the impact of tax policy? We exploit a natural experiment in which two very …, and once during a period of very high uncertainty. Exploiting sharp discontinuities in eligibility and using rich … administrative data, we find that firms exposed to high uncertainty decide to “wait and see” before investing, despite generous …

-whole (full) compensation and mean and median work incomes. Given that consumption uncertainty associated with compensation …

the question of how one should measure vulnerability to shocks, when there is uncertainty concerning the productivity of …