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investment dynamics. By doing so, we compare five prominent uncertainty proxies put forward in the recent literature: the … type of uncertainty proxy, we document pronounced negative investment responses to uncertainty shocks. We further show that …Investment fell sharply in the euro area after the financial crisis and has not yet returned to pre-crisis levels in …
Persistent link: https://www.econbiz.de/10011571047
whether inflation uncertainty has diminished following the introduction of the Euro in Europe. Consumers' responses to the …. Regarding inflation uncertainty, the data indicate a relationship with country size, suggesting that within EMU, inflation … uncertainty may increase in countries that have a smaller influence on ECB policy …
Persistent link: https://www.econbiz.de/10012754359
landscape. Uncertainty and perceptions are influential drivers when it comes to migration decisions, and yet, the literature … simultaneously associated with uncertainty perceptions. We leverage the British referendum of 2016 to leave the European Union as a … unique natural experiment to demonstrate how collective uncertainty, induced by national government policy, affects the …
Persistent link: https://www.econbiz.de/10012261129
decision problems under uncertainty, is used to build a large stochastic numerical equilibrium model of the Western European … energy markets. We use the stochastic model to analyze the impact of economic and political uncertainty on the Western … European energy markets. We demonstrate that the equilibria under uncertainty differ significantly from the deterministic …
Persistent link: https://www.econbiz.de/10013072087
This paper examines German business survey data to uncover the influence of political news on expectations concerning the starting date of the European Monetary Union (EMU). In this survey the participants were asked to indicate whether they expect a punctual or a delayed start of the EMU....
Persistent link: https://www.econbiz.de/10011621979
Since the financial crisis, central banks have stressed the role of trust and communication in connection with their objectives and strategies for aligning the public's inflation expectations with their own and, consequently, improving the effectiveness of monetary policy. Assessing how much the...
Persistent link: https://www.econbiz.de/10011897980
This paper examines the Lucas Paradox and the Allocation Puzzle of international capital flows referring to a panel data set of EMU countries and major industrialized and emerging economies. Overall, the results do not provide evidence in favour of the Lucas Paradox and the Allocation Puzzle....
Persistent link: https://www.econbiz.de/10010249651
During the recent financial crisis, euro area firms, and especially Small and Medium-sized Enterprises, have been reporting acute problems of access to external finance. Using firm-level replies to the SME survey on access to finance, we use two indicators of financing constraints based on...
Persistent link: https://www.econbiz.de/10013092075
Persistent link: https://www.econbiz.de/10001869226
Persistent link: https://www.econbiz.de/10003773379