prices versus tradable quantities in terms of expected welfare, given uncertainty, optimal policy and endogenous cost …

In this paper we offer an analysis of the effects of uncertainty about future tax policy on irreversible investment …. The main message of the paper is that investment is not much affected by the degreee of tax policy uncertainty. This is … that reducing tax policy uncertainty is probably no magic bullet to increase private investment spending …

. It shows that greater uncertainty about climate cost (for given unconditional expected costs) then delays the retrofit … infrastructure when uncertainty is greater. These decisions are efficient given that energy and carbon prices facing the decision … maker are (globally) correct, but would be inefficient when they are lower, as typical in practice. Greater uncertainty …

The effect of uncertainty on equilibrium wage rates causes uncertainty to have a negative impact on marginal q. In turn …, uncertainty reduces corporate investment and employment. Using a novel firm-level measure of cash flow uncertainty, we find … empirically that uncertainty has a strong negative impact on corporate employment and investment in both tangible and intangible …

changes in the interest rate on macroeconomic investment under the scenarios of certainty and uncertainty. We capture the … macroeconomic investment in times of low or even zero interest rates and high uncertainty. Only if the central bank implements …