2010 earthquake in Chile and the 2011 earthquake in Japan. In both cases there was an immediate and persistent effect on … product availability. The number of goods available for sale fell 32% in Chile and 17% in Japan from the day of the disaster … Chile are consistent with pricing models where retailers have fear of "customer anger". In Japan, by contrast, the evidence …

vulnerability, drawing lessons from a detailed comparison of the response of Chile and Australia to recent external shocks and from … useful to identify and then distinguish between two inter-related dimensions of investors' confidence: country-trust and … to improve along these two dimensions of investors' confidence in the medium run, and policies to reduce the impact of …

We investigate the effect of sovereign risk on credit supply, using August 1999 Earthquake as an exogenous shock …

confidence shock. Lack-of-confidence shocks play a central role in generating jobless recoveries, for fundamental shocks, such as …

). Ambiguity aversion is described by recursive multiple priors preferences that capture agents' lack of confidence in probability … using first-order approximations. In our estimated medium-scale DSGE model, a loss of confidence about productivity works … like 'unrealized' bad news. Time-varying confidence emerges as a major source of business cycle fluctuations …

There seems to be a widespread belief among economists, policy-makers, and members of the media that the "confidence … augmented to include empirical measures of consumer or business confidence. We also estimate non-linear VAR specifications to … allow for differential impacts of government spending in "normal'' times versus recessions. In normal times confidence does …