Countercyclical dispersion of firm outcomes (micro dispersion) is commonly used as a proxy for micro uncertainty. In this paper, we characterize conditions under which micro dispersion and micro uncertainty co-move positively in the context of a large Cournot economy with dispersed information...

While the negative effect of uncertainty shocks on economic activity is well documented in manyempirical studies, little is known about the extent to which the effect differs across various kinds ofuncertainty, especially in the emerging market economy context. Using the newly available economic...