TY - BOOK ID - 85290935 TI - Economic Policy Uncertainty in Turkey AU - Jirasavetakul, La-Bhus Fah. AU - Spilimbergo, Antonio. PY - 2018 SN - 1484390792 PB - Washington, D.C. : International Monetary Fund, DB - UniCat KW - Turkey KW - Economic policy. KW - Labor KW - Macroeconomics KW - Money and Monetary Policy KW - Information, Knowledge, and Uncertainty: General KW - Investment KW - Capital KW - Intangible Capital KW - Capacity KW - General Outlook and Conditions KW - Firm Objectives, Organization, and Behavior: General KW - Personnel Economics: Firm Employment Decisions KW - Promotions KW - Employment KW - Unemployment KW - Wages KW - Intergenerational Income Distribution KW - Aggregate Human Capital KW - Aggregate Labor Productivity KW - Monetary Policy, Central Banking, and the Supply of Money and Credit: General KW - Forecasting and Simulation: Models and Applications KW - Labour KW - income economics KW - Monetary economics KW - Economic Forecasting KW - Credit default swap KW - GDP forecasting KW - Money KW - National accounts KW - Economic theory KW - Credit KW - National income UR - https://www.unicat.be/uniCat?func=search&query=sysid:85290935 AB - Uncertainty over economic policy plays a key role in economic outcomes. But evidence and quantification for emerging markets are elusive because of measurement and reverse causality issues. In this paper, we construct a news-based economic policy uncertainty (EPU) index for Turkey and assess how it affects Turkish firms. To disentangle the issues of endogeneity and reverse causality, we use a difference-in-differences approach, exploiting the fact that firms with a high share of irreversible investment are more exposed to policy uncertainty. In sectors with large irreversible investment EPU has a greater effect on growth, investment, and leverage. The results are robust to different definitions of investment irreversibility, lag structure, and selection of sectors. ER -