In this paper we propose an approach to help businesses discover a successful, new strategy in response to a shock … that managers can use to help their companies begin to deal with the unknown-unknowns that result from a significant shock … arising after a shock and tracking the effects of your organisation’s improvised responses; (2) Consciously suspending your …

experiences a shock forcing it to start learning afresh. Firms differ in their information; more informed firms have lower … posterior variances in beliefs. An uncertainty shock is a rise in the probability that any given firm will lose its information … a prolonged recession followed by anemic recovery in response to an uncertainty shock. When confronted with a rise in …

sectors with respect to shock propagation risk can lead to highly persistent aggregate price-dividend ratios. Finally, the … possibility of jumps in one sector triggering higher overall jump probabilities boosts jump risk premia while uncertainty about … the regime is the reason for sizeable diffusive risk premia. …

uncertainty shock with respect to economies with stricter regulations. Using additional labor ow data from Germany, France and UK …

shocks to aggregate uncertainty, I introduce a small, time-varying risk of economic disaster in a standard real business … risk of disaster does not affect the path of macroeconomic aggregates - a "separation theorem" between macroeconomic … variation in risk premia over time, are observationally equivalent to preference shocks. An increase in the perceived …