In Switzerland a sudden policy uncertainty shock happened in February 2014 with the close and largely unexpected … consequences of this substantial policy uncertainty shock on firms' private fixed investment and employment plans. We find that …-term effect of policy uncertainty on investment is economically significant. …

In our article we study how uncertainty affects migration choice and how networks are able to mitigate its effects. In … particular, we describe a real option model where the migration choice depends on both the wage differential between the host …, the optimal migration decision of an individual consists of waiting to migrate in a (coordinated) mass of individuals. By …

theory, migration should play a key role when it comes to insulating per capita consumption from aggregate fluctuations, and … quantify risk sharing can be extended to account for migration as an additional channel of cross-country risk sharing. In … these results, we also present survey evidence which shows that migration rates are about 20 times higher in the US. Lastly …