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Previous work suggests a general uncertainty surrounding the migration process acts as a barrier to outmigration. In this paper, we argue that this barrier is exacerbated when relative economic policy uncertainty is higher in the target country and mitigated when relatively higher in the origin...
Persistent link: https://www.econbiz.de/10014232682
-)variance of power plant profits. If investors are risk-averse, these differ- ences lead to divergent investment portfolios …, breaking the equivalence of price- and quantity-based policy instruments under risk-neutrality. Using the European power sector … with increasing risk aversion. …
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Measuring economic uncertainty is crucial for understanding investment decisions by individuals and firms. Macroeconomists increasingly rely on survey data on subjective expectations. An innovative approach to measure aggregate uncertainty exploits the rounding patterns in individuals' responses...
Persistent link: https://www.econbiz.de/10012034114
liquidation costs. In particular, in our model ambiguity aversion is observationally equivalent to increased risk aversion. This …
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Network (IBRN), established in 2012, brings together researchers from around the world with access to micro-data on individual … studies conducted in 11 countries to explore liquidity risk transmission. Among the main results is, first, that explanatory … power of the empirical model is higher for domestic lending than for international lending. Second, how liquidity risk …
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