asymmetric behavior toward the upside potential of gain versus the downside risk of loss. Using an asymmetric split normal …-default-model-implied) spread to two illiquidity risk factors. The first factor is extracted from several measures of idiosyncratic illiquidity …

The impact of uncertainty on firms? investment outlays is subject to an ongoing debate.Der Einfluss von Unsicherheit …

We examine the impact of uncertainty on employment dynamics. Alternative measures of uncertainty are constructed based … stock price index, and fuel prices. Our results indicate that greater uncertainty has a negative impact on growth of … non-existent or weaker. Our results suggest that to truly understand the effects of uncertainty on employment dynamics, we …

uncertainty for 11 advanced nations. These indices exhibit significant independent variation from popular proxies. Using this new … data we control for both first and second moment financial shocks in identifying the real effects of macro uncertainty … macro uncertainty rises during close elections. These are events which are likely to lead to macro uncertainty but are …

evidence that CEO duality benefits a firm when economic policy uncertainty is high. This implies that CEO-Chairman duality is … an advantageous governance mechanism for coping with economic policy uncertainty. We show that the Sarbanes-Oxley Act …

We use textual analysis to construct an index of economic policy uncertainty (EPU) for Greece from 1/1998 to 12 …/2017, similar to other international EPU indices. We also construct indices of political uncertainty (POLU) and economic uncertainty … uncertainty together with bond yields may explain not only the depth but the length of the crisis as well …

Precautionary saving typically refers to the additional investment in a risk free asset when exogenous labor income is … characterization of precautionary saving change and far less is known about this case. Capital risk is important for macro and finance … models as risk often arises from the variability in asset returns, and precautionary saving plays a key role in interpreting …

uncertainty in the United Kingdom for the period 1991-2016. These indices exhibit significant independent variation from popular … proxies for macroeconomic and financial uncertainty. We identify the impact of uncertainty shocks using narrative sign … uncertainty shocks are generally weaker than proxies suggest and that the effects depend on a subsequent rise in financial …

The aim of this paper is to investigate the effect of economic policy uncertainty on firms' investment decisions. We … focus on Spain for the period 1998-2014. To measure policy-related uncertainty, we borrow the economic policy uncertainty … (EPU) indicator available for this country. We find strong evidence that uncertainty reduces corporate investment. This …