Abstract: The impact of uncertainty on the decision-making of economic agents, such as firms and households, is a important but often neglected element of micro- and macroeconomic theory. With the onset of the financial crisis in 2007 and the strong increase in uncertainty that accompanied it,...

This volume was prepared by Marc Piopiunik while he has been working at the Ifo Institute. It was completed in June 2011 and accepted as a doctoral thesis by the Department of Economics at the University of Munich. It includes four self-contained empirical studies. All studies aim at...