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 …

choice deviate from what citizens want but that an increase in uncertainty about policy outcomes decreases this distortion. …

uncertainty. In particular, though in the deterministic case the introduction or lowering of a price cap (above marginal cost …

choice deviate from what citizens want but that an increase in uncertainty about policy outcomes decreases this distortion. …