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Uncertainty in UK manufacturing: evidence from qualitative survey data

19 December, 2005

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.
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