in The Review of Economic Studies
October 2008; p ublished online October 2008 .
Journal Article. Subjects: Information, Knowledge, and Uncertainy; Prices, Business Fluctuations, and Cycles; Banking. 16461 words.
A bank determines whether potential borrowers are creditworthy, that is, whether they meet the bank's credit or lending standards. In making this determination, each bank is in competition...
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in The Review of Financial Studies
March 2016; p ublished online September 2015 .
Journal Article. Subjects: Information, Knowledge, and Uncertainy; Macroeconomics: Consumption, Saving, Production, Employment, and Investment; Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook; Financial Regulation; Corporate Governance; Corporate Regulation. 17098 words.
Using a news-based index of policy uncertainty, we document a strong negative relationship between firm-level capital investment and the aggregate level of uncertainty associated with...