Macroeconomic uncertainty consists of three components: the unobservable, the heterogeneous and the "uncertain". We are … unaware of exactly when economic agents perceive uncertainty and which type of uncertainty interests them. This paper … uncertainty related queries" for both the USA and Italy. We show that the EURQ encapsulates agents’ need to gather more …

credit constraints; (iv) asset market crashes. In simulations and in the data we aggregate explicitly from individual … behavior. We model credit tightening as a constraint on new borrowing and this generates an option value of borrowing in good … times. We show that the rise in the aggregate savings ratio is driven by increases in uncertainty, rather than tighening of …

credit constraints; (iv) as set market crashes. In simulations and in the data we aggregate explicitly from individual … behavior. We model credit tightening as a constraint on new borrowing and this generates an option value of borrowing in good … times. We show that the rise in the aggregate savings ratio is driven by increases in uncertainty, rather than tightening of …

behavior involves such variables as human wealth and income uncertainty which are not directly observable. This paper exploits …

The UK's decision to leave the EU in the 2016 referendum created substantial uncertainty for UK businesses. The nature … of this uncertainty is different from that of a typical uncertainty shock because of its length, breadth and political … key results. First, Brexit was reported to be one of the top three sources of uncertainty for around 40% of UK businesses …

desirable since it reduces responsibility and regret after the state uncertainty is resolved. I provide an axiomatic …

Research has long documented how different forms of uncertainty, namely risk and ambiguity, influence decision making … uncertainty of potential outcomes. Some decisions may be social in nature where the uncertainty is generated by another person …, whereas other decisions may be non-social involving uncertainty that is generated by probabilistic mechanisms. While past …

In this paper we perform a meta-analysis on empirical estimates of the impact between investment and uncertainty. Since … can explain to a large extent why empirical estimates of the investment-uncertainty relationship differ. …

uncertainty on firms' decisions and market outcomes. We construct alternative measures of uncertainty based on survey of … index, and fuel prices. Our results indicate that greater uncertainty has a negative impact on growth of employment and the … generally non-existent or weaker. Our results suggest that to truly understand the effects of uncertainty on firms' decisions …