Why Is Micro Evidence on the Effects of Uncertainty Not Replicated In Macro Data?
This study investigates the relationship between uncertainty and investment using U.K. data at different levels of aggregation. Motivated by a comparative econometric analysis using a firm-level panel and aggregate time-series data, we analyze the implications of aggregating nonlinear microeconomic...
| Main Authors: | , |
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| Format: | Working paper |
| Language: | English |
| Published: |
IMF
2005
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