TY - UNPB
T1 - Financial uncertainty and business investment
AU - Stockhammer, Engelbert
AU - Grafl, Lucas
PY - 2008
Y1 - 2008
N2 - The paper seeks to contribute to the empirical analysis of financial uncertainty and investment from a Post Keynesian perspective. The paper uses the volatility of the exchange rate, the volatility of the stock market index, and the real gold price as indicators for financial uncertainty. An increase in the volatility of a variable is a sufficient, but not a necessary condition for an increase in uncertainty (regarding this variable). The effects of changes in uncertainty on investment are investigated econometrically for the USA, the UK, the Netherlands, Germany, and France. Financial uncertainty has significant negative effects in the USA and the Netherlands. (author´s abstract)
AB - The paper seeks to contribute to the empirical analysis of financial uncertainty and investment from a Post Keynesian perspective. The paper uses the volatility of the exchange rate, the volatility of the stock market index, and the real gold price as indicators for financial uncertainty. An increase in the volatility of a variable is a sufficient, but not a necessary condition for an increase in uncertainty (regarding this variable). The effects of changes in uncertainty on investment are investigated econometrically for the USA, the UK, the Netherlands, Germany, and France. Financial uncertainty has significant negative effects in the USA and the Netherlands. (author´s abstract)
U2 - 10.57938/f0d4a5fd-01fd-4af1-88e9-c24fc8785993
DO - 10.57938/f0d4a5fd-01fd-4af1-88e9-c24fc8785993
M3 - WU Working Paper
T3 - Department of Economics Working Paper Series
BT - Financial uncertainty and business investment
PB - Inst. für Volkswirtschaftstheorie und -politik, WU Vienna University of Economics and Business
CY - Vienna
ER -