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 …

The impact of uncertainty on firms' investment outlays is subject to an ongoing debate. Theory identifies several … channels. Irreversibility, financing constraints and risk aversion make a negative relationship between uncertainty and … investment likely. On the other hand, the ability of firms to adapt after uncertainty is resolved can make a risky strategy more …

The impact of uncertainty on firms' investment outlays is subject to an ongoing debate. Theory identifies several … channels. Irreversibility, financing constraints and risk aversion make a negative relationship between uncertainty and … investment likely. On the other hand, the ability of firms to adapt after uncertainty is resolved can make a risky strategy more …

We propose a new method of estimating economic uncertainty, using dispersions of forecasts of a wide range of financial …-frequency state-space model, we construct ex-ante macroeconomic uncertainty estimates of the one-year ahead expected state of the … economy. Impulse responses show uncertainty shocks lead to a contraction in economic activity, and monetary policy expansion …

Economic uncertainty is a powerful force in the modern economy. Research shows that surges in uncertainty can trigger … business cycles, bank runs and asset price fluctuations. But where do sudden surges in uncertainty come from? This paper … provides a data-disciplined theory of belief formation that explains large fluctuations in uncertainty. It argues that people …

We present an Uncertainty Perception Indicator (UPI) for Germany based on the dynamic topic modelling technique … this approach facilitates the close-to-realtime identification of both the magnitude of an uncertainty shock as well as its … uncertainty have different repercussions in the macroeconomy. Employing a Bayesian VAR approach, we analyze the effects of various …