We investigate the effect of demand and price uncertainty on firms' planned and realized investment from a panel of manufacturing firms. Uncertainty measures are derived from firms' own expectations about demand and prices and firm's sales. We find that demand uncertainty at the time of planning...

When questions in business surveys about the direction of change have three reply options, “up”, “down”, and “unchanged”, a common practice is to release the results as balance indices. These are linear combinations of the response shares, i.e., the percentage share of the...

This paper summarises the vast evidence on micro price-setting recently obtained for euro area countries. We consider studies with micro data on consumer and producer prices, as well as survey information. The main findings are: (1) prices in the euro area are sticky and stickier than in the US;...