Abbasian, E., Mazaheri, T., Sehat, S., & Akbari, M. (2022). Designing an Uncertainty Index for Investment Conditions. Journal of Investment Knowledge, 11(41), 119-144. http://www.jik-ifea.ir/article_19086.html?lang=fa [In Persian].
Abel, A. B. (1983). Optimal investment under uncertainty. American Economic Review, 73(1), 228-233. https://www.jstor.org/stable/1803942
Aghion, P., Angeletos, G.M., Banerjee, A., Manova, K., (2010). Volatility and growth: Credit constraints and the composition of investment.
Journal of Monetary Economics, 57 (3), 246-265.
https://doi.org/10.1016/j.jmoneco.2010.02.005
Alam, M. I., & Quazi, R. M. (2003). Determinants of capital flight: An econometric case study of Bangladesh.
Review of Applied Economics, 17(1), 85-103.
https://doi.org/10.1080/713673164
Alhakimi, S. S., & Shama, T. R. (2022). Examining the asymmetric impacts of interest and exchange rate on investment in Egypt for the period 1976-2020: Applying NARDL model.
Economics Researches, 28(132).
https://doi.org/10.33095/jeas.v28i132.2269
Ali, S., Badshah, I., Demirer, R., & Hegde, P. (2022). Economic policy uncertainty and institutional investment returns: The case of New Zealand. Pacific-Basin Finance Journal, 74, Article 101797
Arellano, C., Bai, Y., & Kehoe, P. (2016). Financial frictions and fluctuations in volatility.
Journal of Political Economy, 127(5), 2049-2103.
https://doi.org/10.1086/701792
Baghzadeh Azar, F., Mohseni Zanouzi, S. J., & Mansourfar, G. (2020). The Nonlinear Relationship Between Government Economic Policy Uncertainty and Economic Growth in Iran: Emphasizing Financial Market Development in the GAS Model.
Journal of Applied Economic Theory, 7(2), 103-128.
https://doi.org/10.22034/ecoj.2020.11010 [In Persian].
Bahmani-Oskooee, M., & Saha, S. (2019). On the effects of policy uncertainty on stock prices: An asymmetric analysis.
Quant Financ Econ, 3(2), 412–424.
https://doi.org/10.3934/QFE.2019.2.412
Baker, S. R., Bloom, N., & Davis, S. J. (2016). Measuring economic policy uncertainty.
The Quarterly Journal of Economics, 131(4), 1593-1636.
https://doi.org/10.1093/qje/qjw024
Baker, S. R., Bloom, N., & Terry, S. J. (2022).
Using disasters to estimate the impact of uncertainty. (NBER Working Paper No. 27167). National Bureau of Economic Research.
https://www.nber.org/papers/w27167
Banerji, A., Dolado, J., Galbraith, J. W., & Hendry, D. F. (1993). Cointegration, error correction, and the econometric analysis of non-stationary data. Oxford University Press.
Bernanke, B. S. (1983). Irreversibility, uncertainty, and cyclical investment.
Quarterly Journal of Economics, 98(1), 85-106.
https://doi.org/10.2307/1885568
Bloom, N. (2014). Fluctuations in uncertainty.
The Journal of Economic Perspectives, 28(2), 153-176. DOI:
10.1257/jep.28.2.153
Bloom, N., Floetotto, M., Jaimovich, N., Saporta‐Eksten, I., & Terry, S. J. (2018). Really Uncertain Business Cycles. Econometrica, 86(3), 1031-1065. https://doi.org/10.3982/ECTA10927
Bond, S. R., & Lombardi, D. (2006). To buy or not to buy? Uncertainty, irreversibility, and heterogeneous investment dynamics in Italian company data. IMF Staff Papers, 53(3), 375-400. https://doi.org/10.2307/30035918
Bontempi, M. E., Frigeri, M., Golinelli, R., & Squadrani, M. (2019). Uncertainty, perception, and the internet. SSRN. URL: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3469503
Bontempi, M. E., Frigeri, M., Golinelli, R., & Squadrani, M. (2021). EURQ: A new web search-based uncertainty index.
Economica, 88(352), 969-1015.
https://doi.org/10.1111/ecca.12372
Bontempi, M. E., Golinelli, R., & Squadrani, M. (2016). A new index of uncertainty based on internet searches: A friend or foe of other indicators? (Working Paper). https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2746346
Byrne, J. P., & Davis, E. P. (2005). Investment and uncertainty in the G7. Review of World Economics, 141(1), 1-32. https://doi.org/10.1007/s10290-005-0013-0
Caballero, R. J. (1991). On the sign of the investment-uncertainty relationship. American Economic Review, 81(1), 279-288. https://www.jstor.org/stable/2006800
Cascaldi-Garcia, D., Sarisoy, C., Londono, J. M., Sun, B., Datta, D. D., Ferreira, T., Grishchenko, O., Jahan-Parvar, M. R., Loria, F., Ma, S., Rodriguez, M., Zer, I., & Rogers, J. (2023). What is certain about uncertainty?
Journal of Economic Literature, 61(2), 624–654.
https://doi.org/10.1257/jel.20211645
Dehghani, A., Ghaffari Nejad, A. H., & Abbasi, J. (2019). The effect of political intervention of the government on the cost efficiency: case study of iran’s banking system. Journal of Economics and Economic Education Research, 20(3).
Dixit, A. K., & Pindyck, R. S. (1994). Investment under uncertainty. Princeton University Press.
Donadelli, M. (2015). Google search-based metrics, policy-related uncertainty, and macroeconomic conditions. Applied Economics Letters, 22(10), 801-807. https://doi.org/10.1080/13504851.2014.978070
Ettayib, M., Trari, M. H., & Mimouni, Y. (2025). The asymmetric impact of economic policy uncertainty, trade and geopolitical risk on firm-level investment in BRICS countries: Fresh insights from multiple thresholds NARDL approach.
SN Business & Economics, 5, 153.
https://doi.org/10.1007/s43546-025-00902-y
Farooq, U., Tabash, M. I., Anagreh, S., & Saleh Al-Faryan, M. A. (2022). Economic policy uncertainty and corporate investment: Does quality of governance matter? Cogent Economics & Finance, 10(1), Article 2157118.
Foerster, A. (2014). The asymmetric effects of uncertainty. Economic Review, Q(3), 5-26.
Georgiadis, G., (2015). Examining asymmetries in the transmission of monetary policy in the euro area: Evidence from a mixed cross-section global VAR model.
European Economic Review, 75(c), 195–215.
https://doi.org/10.1016/j.euroecorev.2014.12.007
Gilchrist, S., Sim, J. W., & Zakrajšek, E. (2014).
Uncertainty, financial frictions, and investment dynamics (Working Paper No. w20038). Cambridge, Massachusetts: National Bureau of Economic Research.
https://doi.org/10.3386/w20038
Goudarzi Farahani, Y., & Abbasinejad, H. (2023). Measuring the Impact of Economic Uncertainty Shocks on Macroeconomic Variables: A DSGE Approach. Sustainable Economy Journal, 4(3), 106-133. https://doi.org/10.22111/sedj.2023.44255.1277 [In Persian].
Goudarzi Farahani, Y., Adeli, O., & Ghorbani, A. (2020). The Impact of Economic Policy Uncertainty on Exchange Rate Volatility Using the Nonlinear Autoregressive Distributed Lag (NARDL) Model. Econometric Modeling, 5(4), 147-171. https://doi.org/10.22075/jem.2021.22243.1547 [In Persian].
Hartman, R. (1972). The effects of price and cost uncertainty on investment. Journal of Economic Theory, 5(2), 258-266. https://doi.org/10.1016/0022-0531(72)90105-6
Jorgenson, D. W. (1963). Capital theory and investment behavior. American Economic Review, 53(2), 247-259. https://www.jstor.org/stable/1823868
Kashian, A., Khorasani, M., & Ebrahimi, S. K. (2025). Investigating the Asymmetric Effects of Economic Policy Uncertainty on the Efficiency of Iran's Financial System: A NARDL Approach. Journal of Applied Economic Theory. https://doi.org/10.22034/ecoj.2025.67512.3435 [In Persian].
Kimasi, M., Ghafari Nejad, A., & Rezaei, S. (2016). The Impact of Banking System Sanctions on Their Profitability. Monetary and Banking Research Journal, 9(28), 171-197. https://jmbr.mbri.ac.ir/article-1-341-fa.html [In Persian].
Koetse, M. J., De Groot, H. L. F., & Florax, R. J. G. M. (2009). A meta-analysis of the investment-uncertainty relationship. Southern Economic Journal, 76(1), 283-306. https://doi.org/10.4284/sej.2009.76.1.283
Lemieux, J., & Peterson, R. A. (2011). Purchase deadline as a moderator of the effects of price uncertainty on search duration.
Journal of Economic Psychology, 32(1), 33–44.
https://doi.org/10.1016/j.joep.2010.10.005
Long, S., Pei, H., Tian, H., & Li, F. (2021). Asymmetric impacts of economic policy uncertainty, capital cost, and raw material cost on China's investment.
Economic Analysis and Policy, 72, 129-144.
https://doi.org/10.1016/j.eap.2021.08.005
Loni, S., Abbasian, E., & Haji, G. (2021). The Effect of Economic Policy Uncertainty on Corporate Investment: Evidence from Companies Listed on the Tehran Stock Exchange. Financial Research, 23(2), 249-268. https://doi.org/10.22059/frj.2021.310437.1007069 [In Persian].
Meinen, P., & Roehe, O. (2017). On measuring uncertainty and its impact on investment: Cross-country evidence from the Euro Area. European Economic Review, 92, 161-179. https://doi.org/10.1016/j.euroecorev.2016.12.002
Nainggolan, P., Ramli, R., Daulay, M., Rujiman, R., (2015). An analysis of determinant on private investment in North Sumatra province, Indonesia. Journal of Management Research, 7 (1), 38-57. https://doi.org/10.5296/jmr.v7i1.6541
Newey, W. K., & West, K. D. (1987). A simple, positive semi-definite, heteroskedasticity and autocorrelation consistent covariance matrix. Econometrica, 55(3), 703-708. https://doi.org/10.2307/1913610
Nusair, S. A., & Al-Khasawneh, J. A. (2022). Impact of economic policy uncertainty on the stock markets of the G7 countries: A nonlinear ARDL approach. The Journal of Economic Asymmetries, 26, Article e00251. https://doi.org/10.1016/j.jeca.2022.e00251
Nusair, S. A., Olson, D., & Al-Khasawneh, J. A. (2024). Asymmetric effects of economic policy uncertainty on demand for money in developed countries. The Journal of Economic Asymmetries, 29, Article e00350. https://doi.org/10.1016/j.jeca.2023.e00350
Pedram, M., Parvaei, S., & Raeisi, H. (2025). Money Demand and Economic Uncertainty in Iran. Iranian Economic Development Analyses, 11(1), 31-52. https://doi.org/10.22051/ieda.2025.51675.1473 [In Persian].
Pesaran, M. H., Shin, Y., & Smith, R. J. (2001). Bounds testing approaches to the analysis of level relationships. Journal of Applied Econometrics, 16(3), 289-326. https://doi.org/10.1002/jae.616
Pindyck, R. S. (1982). Adjustment costs, uncertainty, and the behavior of the firm. American Economic Review, 72(3), 415-427. https://www.jstor.org/stable/1831541
Pourdahghan Ardakan, M., Alavi Bajgahani, S. A. R., Abtahi, S. Y., & Dehghan Tafti, M. A. (2025). Threshold Effects of Global Economic Uncertainty on Foreign Investment in Developing Countries. Economic Policies and Research, 4(2), 91-111. https://doi.org/10.22034/jepr.2024.142014.1168 [In Persian].
Rezagholizadeh, M., Tehranchian, A., & Alizadeh Nagharchi, F. (2023). Investigating the Asymmetric Effects of Oil Price Uncertainty on Corporate Investment. Macroeconomics Research Journal, 18(40), 41-67. https://doi.org/10.22080/iejm.2024.26309.2015 [In Persian].
Romer, C. D. (1990). The Great Crash and the onset of the Great Depression.
The Quarterly Journal of Economics, 105(3), 597–624.
https://doi.org/10.2307/2937892
Shin, Y., Yu, B., & Greenwood-Nimmo, M. (2014). Modelling asymmetric cointegration and dynamic multipliers in a nonlinear ARDL framework. In R. Sickels & W. Horrace (Eds.), Festschrift in honor of Peter Schmidt: Econometric methods and applications (pp. 281–314). Springer, New York. https://doi.org/10.1007/978-1-4899-8008-3_9
Simran, & Sharma, A. K. (2023). Asymmetric impact of economic policy uncertainty on cryptocurrency market: Evidence from NARDL approach.
The Journal of Economic Asymmetries, 27, e00298.
https://doi.org/10.1016/j.jeca.2023.e00298
Sotoudehnia Karani, S., & Shafizadeh Abkenar, B. (2025). Investigating the Effect of Uncertainty on Economic Growth and Monetary Policies in Iran. Economic Growth and Development Research, 15(59), 1-20. https://doi.org/10.30473/egdr.2025.73885.6971 [In Persian].
Tabash, M. I. (2025). Economic policy uncertainty and foreign direct investment inflow: The role of institutional quality in South Asia region.
Research in International Business and Finance, 76, 102860.
https://doi.org/10.1016/j.ribaf.2025.102860
Yavarifar, A., Emami, K., & Mohammadi, T. (2023). The Effects of Economic Policy Uncertainty Shocks on the Iranian Economy Using a DSGE Approach. Journal of Economic Policy, 15(30), 38-66. https://doi.org/10.22034/epj.2023.20166.2440 [In Persian].
)