It takes the average reader and 35 minutes to read Why Is Micro Evidence on the Effects of Uncertainty Not Replicated In Macro Data? by Stephen Bond
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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 processes. Replicating firm-level evidence that uncertainty influences investment dynamics proves to be challenging. Even using perfectly consistent data sources, this requires both exact aggregation of the underlying micro equations, and controlling for the unobserved influences on investment that are commonly subsumed into time dummies in panel studies. These conditions are unlikely to be satisfied in most aggregate econometric studies.
Why Is Micro Evidence on the Effects of Uncertainty Not Replicated In Macro Data? by Stephen Bond is 35 pages long, and a total of 8,925 words.
This makes it 12% the length of the average book. It also has 11% more words than the average book.
The average oral reading speed is 183 words per minute. This means it takes and 48 minutes to read Why Is Micro Evidence on the Effects of Uncertainty Not Replicated In Macro Data? aloud.
Why Is Micro Evidence on the Effects of Uncertainty Not Replicated In Macro Data? is suitable for students ages 8 and up.
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