Uncertainty in UK manufacturing: Evidence from qualitative survey data

This paper generalizes the probability method of quantification [Carlson, J. and Parkin, M., 1975. ‘Inflation expectations’, Economica 42, 123–138.] to the variance facilitating the quantification of survey data which ask individuals whether they are uncertain. An application evaluates time-series and cross-sectional proxies of uncertainty and considers how uncertainty affects investment.