more highly correlated; moreover, at these times, money supply positively affects financial market liquidity, albeit with a … lag of two weeks. During normal times, increases in mutual fund flows enhance stock market liquidity and trading volume …, but during financial crises, U.S. government bond funds see higher inflows, resulting in increased bond market liquidity …

duration of the disasters. Uncertainty about the persistence of states can lead to seemingly pessimistic behavior in bad times … and optimistic behavior in good times. In a disaster, uncertainty about duration acts as an amplification mechanism … welfare cost of parameter uncertainty can be extreme. However, in advance of a disaster, uncertainty about the arrival rate …

green investment as the uncertainty of subsidies rises. This effect is identified from weather-driven fluctuations in air … pollution that lead to fluctuations in subsidy allocations: Firms in cities where weather-driven subsidy uncertainty is high … focused on environmental technologies are more affected. The results suggest that policy uncertainty may originate not only …