Catastrophes caused by natural disasters are by no means new, yet the evolving understanding of their relevance to economic development and growth is still in its infancy. In order to facilitate further necessary research on this topic, this paper summarizes the state of the economic literature...

This paper analyzes the long-run relationship between output collapses—defined defined as GDP falling substantially below trend—and total factor productivity (TFP), using a panel of 71 developed and developing countries during the period 1960-2003 to identify episodes of output collapse and...

A strategy of inclusion of adaptation and mitigation expenses in a model of optimal growth under threat of climate change calamities is discussed in these exploratory notes. Calamity is the result of a shock that reduces the utility level (even to extinction forever) and/or triggers a...