منابع مشابه
Economic policy uncertainty and firm-level investment
This paper examines the effect of economic policy uncertainty and its components on firm-level investment. It is found that economic policy uncertainty in interaction with firm-level uncertainty depresses firms’ investment decisions. When firms are in doubt about costs of doing business due to possible changes in regulation, cost of health care and taxes, they become more guarded with investmen...
متن کاملEconomic Policy Uncertainty & Asset Price Volatility∗
We document that fear about misspecified economic and central bank policies explain 45% of variations in bond option implied volatilities and interest rate volatilities. We endogenize this empirical pattern with a parsimonious equilibrium asset pricing model. In equilibrium, volatility is endogenously driven by fear of not knowing the data generating process that drives future economic and futu...
متن کاملMonetary Policy Uncertainty and Economic Fluctuations
We investigate the relationship between uncertainty about monetary policy and its transmission mechanism, and economic fluctuations. We propose a new term structure model where the second moments of macroeconomic variables and yields can have a first-order effect on their dynamics. The data favors a model with two unspanned volatility factors that capture uncertainty about monetary policy and t...
متن کاملWhether State Fiscal Policy Affects State Economic Growth
Theory predicts that fiscal policy can affect economic growth by adjusting incentives for investment and labor as well as by distorting after-tax returns across sectors. This paper examines the effect of fiscal policy on growth rates first graphically, and then through two models, one of which disaggregates fiscal policy variables. I find evidence that increased size of government is negatively...
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ژورنال
عنوان ژورنال: Social Science Research Network
سال: 2022
ISSN: ['1556-5068']
DOI: https://doi.org/10.2139/ssrn.4114715