02064cas a2200325 a 4500 AALejournalIMF018925 230101c9999 xx r poo 0 0eng d 5.00 USD 9781484387740 1018-5941 BD-DhAAL BD-DhAAL Jirasavetakul, La-Bhus Fah. Economic Policy Uncertainty in Turkey / La-Bhus Fah Jirasavetakul, Antonio Spilimbergo. Washington, D.C. : International Monetary Fund, 2018. 1 online resource (36 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students 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. Mode of access: Internet Depreciation Rate imf EPU Index imf Investment Model imf Micro Data imf WP imf Turkey imf Spilimbergo, Antonio. IMF Working Papers; Working Paper ; No. 2018/272 Full text available on IMF http://elibrary.imf.org/view/journals/001/2018/272/001.2018.issue-272-en.xml IMF e-Library