This paper studies the role of confidence in the transmission of uncertainty shocks during U.S. recessions. I use smooth-transition VAR to examine the regime-dependent effect of uncertainty shocks, and a counterfactual decomposition to isolate the role of confidence when the economy is in...

Finance is crucial for the low-carbon energy transition. This research takes the solar PV technology as an example to explore whether having state-owned financial institutions, such as national development banks (NDBs), offers advantages in a country for mobilizing finance. By focusing on three...