Uncertainty in UK manufacturing: evidence from qualitative survey data

Pub. Date
19 December, 2005
Pub. Type

This paper generalizes the probability method of quantification [Carlson and Parkin, Economica, 1975] to the variance facilitating the quantification of business survey data which ask individuals whether or not they are uncertain. In an application to UK manufacturing traditional time-series and cross-sectional measures of uncertainty are then evaluated and the effect of uncertainty on investment considered.