This paper considers the design of macroeconomic policies in the face of uncertainty. In recent years, several … absent any uncertainty. …

the analysis of several indicators of uncertainty. In addition to well established concepts, we introduce innovative … measures based on the skewness of forecast errors and on the share of 'no response' replies. Results show that uncertainty …

The argument that policy risk, i.e. uncertainty about monetary and fiscal policy, has been holding back the economic … business cycle fluctuations by using an estimated New Keynesian model featuring policy risk as well as uncertainty about … technology. We directly measure uncertainty from aggregate time series using Sequential Monte Carlo Methods. While we find …

This paper examines how time to build alters strategic investment behaviour under oligopoly. Facing demand uncertainty …, firms decide whether to invest early or wait until uncertainty has been resolved. A game that captures time …

increased uncertainty concerning the future stringency of the European Emission Trading Scheme. It also gives another rationale …

evaluates the role of Solar Radiation Management (SRM) on the optimal abatement path, focusing on the uncertainty about the … theory under uncertainty, we show that abatement is decreasing in the probability of success of SRM, but that this relation …

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 …