A growing body of evidence suggests that uncertainty is counter cyclical, rising sharply in recessions and falling in booms. But what is the causal relationship between uncertainty and growth? To identify this we construct cross country panel data on stock market levels and volatility as proxies...

This study details the effects of policy conflicts and fiscal crises in the United States and Europe. The impact of economic policy on the economy is measured to generate a proxy for policy uncertainty using three groups of observable measures and combining them into one index of Economic Policy...

A growing body of evidence suggests that uncertainty is counter cyclical, rising sharply in recessions and falling in booms. But what is the causal relationship between uncertainty and growth? To identify this we construct cross country panel data on stock market levels and volatility as proxies...