We investigate the effect of uncertainty on investment. We employ a unique dataset of 25000 Greek firms' balance sheets … uncertainty. The investment performance of 14 sectors is examined within a dynamic investment model. Robust GMM estimates of the … investment rate model reveal a high degree of heterogeneity among these sectors. Overall uncertainty affects negatively …

events that are each somewhat unique cause unforeseeable change and Knightian uncertainty in the process driving outcomes …

. Hedging strategies are robust with respect to uncertainty in the sense that their tracking errors satisfy a supermartingale …

This study investigates the impact of uncertainty on the mean-variance relationship. We find that the stock market …’s expected excess return is positively related to the market’s conditional variances and implied variance during low uncertainty … periods but unrelated or negatively related to conditional variances and implied variance during high uncertainty periods. Our …

This paper sheds light on the impact of global macroeconomic uncertainty on the euro area economy. We build on the … methodology proposed by Jurado et al. (2015) and estimate global as well as country-specific measures of economic uncertainty for … to a wide range of historical events generally associated with heightened uncertainty. In addition, following Pier and …