Abstract The aim of this paper is to investigate the effect economic policy uncertainty on firms’ investment decisions. We focus Spain for period 1998–2014. To measure policy-related uncertainty, we borrow (EPU) indicator available country. find strong evidence that reduces corporate investment. This relationship appears be nonlinear, being marginal attenuated toward zero during periods high le...

Economic crises bring to the fore deep issues for the economic profession and their models. Given that cognitive science shares with economics many theoretical frameworks and research tools designed to understand decision-making behavior, should economists be the only ones re-examining their conceptual ideas and empirical methods? We argue that economic crises demonstrate different forms of unc...

Property relation management of the (ownership, disposable, using) limited resources, which naturally occurs in the economic systems, face a problem uncertainty behavior of its active elements. The model of identification and forecasting of the economic system trajectory states in time is offered in work, which allows complex estimation its conduct from positions of risk (additive distributing)...

Article history: Received 13 January 2011 Received in revised form 7 May 2014 Available online xxxx JEL classification: D51 E20 E32 E63

We study the link between credit spreads and the heterogeneous formation of expectations in an economy where agents with different perception of economic uncertainty disagree about future cash flows of a defaultable firm. The intertemporal risk-sharing of disagreeing investors gives rise to three testable implications: First, larger belief heterogeneity increases credit spreads and their volati...

В статті розглянуто соціально-економічний розвиток України в умовах невизначеності. Соціально-економічний характеризується зростанням і падінням (економічними циклами), що викликано ендогенними та екзогенними факторами. роботі досліджено взаємозв'язок між економічними циклами кризовими процесами світовій економіці. Розглянуто типологію економічних циклів: однорічних циклів, циклів Кітчина-Крума...