episodes of very high uncertainty. First, we identify episodes of very high uncertainty using a regime-switching model. Second …, we assess the behaviour of macroeconomic and financial variables during these episodes of very high uncertainty. This … markets. We find that very high uncertainty episodes are associated with a weaker growth performance and sharp declines in …

We estimate the effect of demand and price uncertainty on firms' investment decisions from a panel of manufacturing … firms. Uncertainty measures are derived from firms' subjective qualitative expectations. They are close to their theoretical … counterparts, the variances of future demand and price shocks. We find that demand uncertainty depresses planned and realized …

and computation of Value-at-Risk. …

This paper discusses methods to quantify risk and uncertainty in macroeconomic forecasts. Both, parametric and non … macroeconometric model of the Bundesbank for Germany. Forecast intervals that integrate judgement on risk and uncertainty are obtained. …

Any measure of unobserved inflation uncertainty relies on specific assumptions which are most likely not fulfilled … indicator for inflation uncertainty. Moreover, the idiosyncratic component of survey disagreement contains systematic … that higher inflation is followed by higher uncertainty. By contrast, we obtain contradictory results for the individual …

to meet their financial obligations. It is based on classical financial-statement approach, a direct inclusion of risk …

discuss the transaction attributes 'asset specificity' and 'uncertainty' and identify conceptual gaps that lead to ambiguous …

Due to the complexity of employment protection legislation (EPL) in Germany, there is notable uncertainty about the …

Due to the complexity of employment protection legislation (EPL) in Germany, there is notable uncertainty about the …