impact of changes in the interest rate on macroeconomic investment under certainty and under uncertainty to investigate … whether uncertainty over future interest rates in the Euro area hampers monetary policy transmission. In this non-linear model … 'play' area. Second, we apply an algorithm describing path-dependent play-hysteresis to estimate investment hysteresis using …

participation plays in this effect for 11 new European Union member states. Using heterogeneous panel cointegration methods, we …

uncertainty spillovers from the Eurozone. The resulting time series serves as a forwardlooking measure of exchange rate … to the exchange rate, the uncertainty and the directional expectations exhibit different dynamic impacts on exports …In light of the recent discussion regarding the measurement of uncertainty and its impact on economic activity, this …