Dynamic externalities are at the core of many long-term environmental problems, from species preservation to climate change mitigation. We use laboratory experiments to compare welfare outcomes and underlying behavior in games with dynamic externalities under two distinct settings:...

The importance of understanding the macro-economic impact of natural disasters cannot be overstated. Hurricane Iniki, that hit the Hawaiian island of Kauai on September 11th, 1992, offers an ideal case study to better understand the long-term economic impacts of a major disaster. Iniki is...

We examine impact of natural disasters on annual output and output growth in Vietnam. Using provincial data for primary and secondary industries in Vietnam, we employ the Blundell-Bond System GMM procedure to estimate the impact of disasters on the macro-economy. Results show that more lethal...

Hurricane Iniki, that hit the island of Kauai on September 11th, 1992, was the strongest hurricane that hit the Hawaiian Islands in recorded history, and the one that wrought the most damage, estimated at 7.4 billion (in 2008 US$). We provide an assessment of Hawaii’s vulnerability to...

Recent research in both the social and natural sciences has been devoted to increasing our ability to predict disasters, prepare for them and mitigate their costs. Curiously, we appear to know very little about the fiscal consequences of disasters. The likely fiscal impact of a natural disaster...

The aim of this study is to describe the macroeconomic dynamics of natural disasters and their determinants in a large sample of disaster events, the first such attempt we are aware of. Our research shows that natural disasters have a statistically observable adverse impact on the macroeconomy...

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

The sources of economic growth and development have been puzzling economists from the modern dawn of the profession. While the Solow-Swan neo-classical model dominated research on growth in the 1960s and 1970s, the 1980s saw the emergence of growth theories that disputed, largely on theoretical...

This paper develops a two-stage model for the optimal management of a potential invasive species. The arrival of an invasive species is modeled as an irreversible event with an uncertain arrival time. The model is solved in two stages, beginning with the post-invasion stage. In this stage, we...

We survey the history of natural disasters in the Pacific Rim, and the region's vulnerabilities. We also discuss the extent of our knowledge about the short- and long-term economic impacts of these disasters, and prevention, mitigation and post-disaster policies that may be implemented.