short-time window to test the impact of deteriorating expectations and uncertainty on firms' R&D choices. Our results show a … critically shape firms' reactions to the general uncertainty. Two main patterns emerge from our analysis. On the one hand, there …This paper takes advantage of the COVID-19 outbreak to explore the determinants of firms' R&D choices around an …

endogenous information acquisition, using tailored surveys of firms and households. First, we show that firms perceive a greater … acquiring or processing information acquire less information. Finally, an exogenous increase in the perceived uncertainty of the … exchange rate increases firms’ demand for a report about exchange rate developments, but not households'. Our findings inform …

endogenous information acquisition, using tailored surveys of firms and households. First, we show that firms perceive a greater … acquiring or processing information acquire less information. Finally, an exogenous increase in the perceived uncertainty of the … exchange rate increases firms' demand for a report about exchange rate developments, but not households'. Our findings inform …

, as firms delay exiting the export market. Most importantly, the measure of uncertainty displays a distinctive effect on …A supply chain is only as strong as its weakest link. Firms are constantly managing uncertainties, including unexpected … estimator to investigate how unpredictability in border clearance times for imports affects manufacturing firms' entry, exit …

Based on a new survey question in a large and representative panel of German firms, this paper introduces a novel … measure of managers' subjective uncertainty. I compare this measure of business uncertainty to respondents' business … expectations and document a strong negative relationship. However, the link is much weaker in bad times, since uncertainty is then …

This paper studies the dynamic effects of an uncertainty shock on firm expectations. We conduct a survey that confronts … managers from a representative firm sample with a model-consistent uncertainty shock scenario. An exogenous increase in … uncertainty significantly reduces managers' expected investment, employment and production in the short and mid run. We collect …