This paper uses U.S. credit register data and the 2018-19 Trade War to study the effects of uncertainty on domestic … credit supply. Exploiting differences in banks' ex-ante exposure to trade uncertainty, we find that increased uncertainty is … uncertainty with wait-and-see behaviors, where more exposed banks curtail risky exposures, reduce loan maturities, and adjust loan …

investment by removing or mitigating risks in an environment of fundamental uncertainty. Industrial policies tackle different …

to deal with uncertainty in period 1. In contrast to existing literature, we will also address the circumstance that the …