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Using a quarterly panel of U.S. corporations over the period 1985–2014, we show that corporate managers respond to political uncertainty and economic policy uncertainty shocks in different ways. We proxy for political uncertainty using the Partisan Conflict Index and employ a prevalent empirical macroeconomic methodology to construct structural shocks that are orthogonal to shocks captured by the Economic Policy Uncertainty Index. Following a political uncertainty shock, corporations increase cash but do not adjust investment. Alternatively, following an economic policy uncertainty shock, firms appear to draw on cash and reduce capital spending to increase research and development spending. [ABSTRACT FROM AUTHOR]

This paper describes the new global long-term, International Satellite Cloud Climatology Project (ISCCP) H-Series climate data record (CDR). The H-Series data contains a suite of level 2 and level 3 products for monitoring the distribution and variation of cloud and surface properties to better understand the effects of clouds on climate, the radiation budget, and the global hydrologic cycle. This product is currently available for public use and is derived from both geostationary and polar orbiting satellite imaging radiometers with common visible and infrared (IR) channels. The H-Series data spans from July 1983 to Dec 2009 with plans for continued production to extend the record to the present with regular updates. The H-series data are the longest combined geostationary and polar orbiter satellite based CDR of cloud properties. Access to the data is provided in network Common Data Form (netCDF) and archived by NOAA's National Centers for Environmental Information (NCEI) under the satellite Climate Data Record Program (https://doi.org/10.7289/V5QZ281S). The basic characteristics, history, and evolution of the dataset are presented herein with particular emphasis on and discussion of product changes between the H-Series and the widely used predecessor D-Series product which spans from July 1983 through December 2009. Key refinements included to the ISCCP H-Series CDR are based on improved quality control measures, modified ancillary inputs, higher spatial resolution input and output products, calibration refinements, and updated documentation and metadata to bring the H-Series product into compliance with existing standards for climate data records. [ABSTRACT FROM AUTHOR]

We study tacit collusion in price-setting duopoly games with strategic complements and substitutes. While this problem has been considered by several studies, this article sheds new light on the comparison by focusing on the relationship between dynamic stability of equilibrium and tacit collusion. We find when controlling for the absolute slope of the reaction functions, there are no robust differences in either the convergence properties or tacit collusion between complements and substitutes treatments. [ABSTRACT FROM AUTHOR]