emerging economies. This paper argues that uncertainty about future monetary policy is a separate transmission channel. We … focus on the taper tantrum episode in 2013, a period with an elevated uncertainty about monetary policy, and use a data set … index about monetary policy uncertainty using a list of uncertainty keywords. An advantage of this index is that it reflects …

This paper explores how changes in macroeconomic uncertainty have affected the decision to reply to the European … Central Bank’s Survey of Professional Forecasters (ECB’s SPF). The results suggest that higher (lower) aggregate uncertainty … more individual uncertainty seem to have a lower likelihood of replying to the survey. Consequently, measures of …

Does increased policy uncertainty dampen investment plans of firms? We provide direct evidence on this question by … induced policy uncertainty have revised their investment plans differently from those that did not perceive an increase in … uncertainty. We find strong evidence that an increase in policy uncertainty does lead firms to reduce their investment plans. As …

Does increased policy uncertainty dampen investment plans of firms? We provide direct evidence on this question by … induced policy uncertainty have revised their investment plans differently from those that did not perceive an increase in … uncertainty. We find strong evidence that an increase in policy uncertainty does lead firms to reduce their investment plans. As …