Showing 1 - 10 of 3,618
of data is an increasingly important source of uncertainty about the state of the economy and offer an alternative … channel of uncertainty - data uncertainty. This paper adds on the uncertainty literature and focuses on data uncertainty …, which originates in the revision structure of data. We find that apart from the general and economic policy uncertainty, the …
Persistent link: https://www.econbiz.de/10011298898
of data is an important source of uncertainty about the state of the economy. This paper evaluates the quality of major … growing data uncertainty over the past decade for Euro area variables. As a robustness check, we reckon our results using US … data and additionally show that uncertainty calculations are robust towards changes in final revision definition. Moreover …
Persistent link: https://www.econbiz.de/10010425751
This paper investigates the effects of uncertainty on the macro economy by replicating its micro effects on individual … the two scenarios through the empirical macroeconomic uncertainty index. The higher the macroeconomic uncertainty is, the … appropriate level of ambiguity aversion outperforms the benchmark model with no uncertainty in fitting the US output growth rate …
Persistent link: https://www.econbiz.de/10014364652
find a quarter of students violated the order. Yet, neither risk preference, altruism, nor preexisting health conditions …
Persistent link: https://www.econbiz.de/10012213128
pricing model with a green-minus-brown (GMB) factor as a proxy. I estimate the relationship between risk factors and excess …-of-fit when flexibly estimating the relationship between risk factors and excess returns. I confirm previous studies finding that …
Persistent link: https://www.econbiz.de/10014350807
channels. Irreversibility, financing constraints and risk aversion make a negative relationship between uncertainty and …The impact of uncertainty on firms' investment outlays is subject to an ongoing debate. Theory identifies several … investment likely. On the other hand, the ability of firms to adapt after uncertainty is resolved can make a risky strategy more …
Persistent link: https://www.econbiz.de/10011418846
In this paper we investigate transmission and spillovers of local and foreign economic policy uncertainty shocks to … addition to local effects we find foreign uncertainty shocks influence the Euro area but not the US unemployment. Moreover we … document weaker spillovers of both local and foreign uncertainty shocks in the more volatile times. …
Persistent link: https://www.econbiz.de/10011437769
This paper analyzes optimal fiscal policy with ambiguity aversion and endogenous government spending. We show that, without ambiguity, optimal surplus-to-output ratios are acyclical and that there is no rationale for either reduction or further accumulation of public debt. In contrast, ambiguity...
Persistent link: https://www.econbiz.de/10012936338
This paper analyzes optimal fiscal policy with ambiguity aversion and endogenous government spending. We show that, without ambiguity, optimal surplus-to-output ratios are acyclical and that there is no rationale for either reduction or further accumulation of public debt. In contrast, ambiguity...
Persistent link: https://www.econbiz.de/10012855601
The impact of uncertainty on firms? investment outlays is subject to an ongoing debate.Der Einfluss von Unsicherheit …
Persistent link: https://www.econbiz.de/10012991335