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Economic policy uncertainty and allocative distortions

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dc.contributor.authorGuedhami, Omraneen
dc.contributor.authorMansi, Sattar A.en
dc.contributor.authorReeb, Daviden
dc.contributor.authorYasuda, Yukihiroen
dc.date.accessioned2021-12-14T22:20:47Zen
dc.date.available2021-12-14T22:20:47Zen
dc.date.issued2021-12-14en
dc.date.updated2021-12-14T22:20:45Zen
dc.description.abstractWe introduce this special issue on Economic Policy Uncertainty (EPU) with a focus on how EPU affects allocative efficiency. We observe that EPU affects the market value of firms in about 37% of Fama–French 30 industries, but leads to lower investments in 90% of them. Allocation decisions in a market economy rely on signals from the capital market, which EPU distorts. This may cause increasing conflicts of interest between managers and investors. We highlight key studies in the EPU literature and then describe each paper in this special issue. We also provide suggestions for future research.en
dc.description.versionAccepted versionen
dc.format.mimetypeapplication/pdfen
dc.identifier.orcidMansi, Sattar [0000-0001-7098-7996]en
dc.identifier.urihttp://hdl.handle.net/10919/106991en
dc.language.isoenen
dc.rightsIn Copyrighten
dc.rights.urihttp://rightsstatements.org/vocab/InC/1.0/en
dc.subject1402 Applied Economicsen
dc.subject1502 Banking, Finance and Investmenten
dc.subjectFinanceen
dc.titleEconomic policy uncertainty and allocative distortionsen
dc.title.serialJournal of Financial Stabilityen
dc.typeArticle - Refereeden
dc.type.dcmitypeTexten
dc.type.otherArticleen
dcterms.dateAccepted2021-02-01en
pubs.organisational-group/Virginia Techen
pubs.organisational-group/Virginia Tech/Pamplin College of Businessen
pubs.organisational-group/Virginia Tech/Pamplin College of Business/Finance, Insurance, and Business Lawen
pubs.organisational-group/Virginia Tech/All T&R Facultyen
pubs.organisational-group/Virginia Tech/Pamplin College of Business/PCOB T&R Facultyen

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