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Property Insurance and Disaster Risk : New Evidence from Mortgage Escrow Data
Keys, Benjamin J.; Mulder, Philip - National Bureau of Economic Research - 2024
associated with a stronger relationship between premiums and local disaster risk: A one standard-deviation increase in disaster …-through of reinsurance costs. Third, we project that if the reinsurance shock persists, growing disaster risk will lead climate …
Persistent link: https://www.econbiz.de/10014576608
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Disaster Management
Van Reenen, John; Norris Keiller, Agnes - National Bureau of Economic Research - 2024
Climate change is making natural disasters more frequent, yet little is known about the capacity of firms to withstand such disasters and adapt to their increased frequency. We examine this issue using a the latest wave of the World Management Survey (WMS) that includes new questions on firms'...
Persistent link: https://www.econbiz.de/10014576624
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Evolution of Risk Aversion over Five Years after a Major Natural Disaster
Ingwersen, Nicholas; Frankenberg, Elizabeth; Thomas, Duncan - National Bureau of Economic Research - 2023
The impact of exposure to a major unanticipated natural disaster on the evolution of survivors' attitudes toward risk … assume greater financial risk in the short-term while rebuilding their lives after the disaster …
Persistent link: https://www.econbiz.de/10014250120
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Natural Disasters and Municipal Bonds
Auh, Jun Kyung; Choi, Jaewon; Deryugina, Tatyana; Park, Tim - National Bureau of Economic Research - 2022
: returns of uninsured bonds fall slowly in the weeks following a disaster, by 0.31% on average, translating into investor … losses of almost $10 billion. Source of bond revenue, bond insurance, disaster severity, federal disaster aid, and local …
Persistent link: https://www.econbiz.de/10013334497
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Forest Fires : Why The Large Year-to-Year Variation in Forests Burned?
Apt, Jerome; Epple, Dennis N.; Sowell, Fallaw - National Bureau of Economic Research - 2023
Quantifying factors giving rise to temporal variation in forest fires is important for advancing scientific understanding and improving fire prevention. We demonstrate that eighty percent of the large year-to-year variation in forest area burned in California can be accounted for by variation in...
Persistent link: https://www.econbiz.de/10014372495
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After the Storm : How Emergency Liquidity Helps Small Businesses Following Natural Disasters
Collier, Benjamin L.; Howell, Sabrina T.; Rendell, Lea - National Bureau of Economic Research - 2024
Does emergency credit prevent long-term financial distress? We study the causal effects of government-provided recovery loans to small businesses following natural disasters. The rapid financial injection might enable viable firms to survive and grow or might hobble precarious firms with more...
Persistent link: https://www.econbiz.de/10014528366
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Learning, Catastrophic Risk and Ambiguity in the Climate Change Era
Moore, Frances - National Bureau of Economic Research - 2024
Key methodologies used for managing weather risks have relied on the assumption that climate is not changing and that the historic weather record is therefore representative of current risks. Anthropogenic climate change upends this assumption, effectively reducing the information available to...
Persistent link: https://www.econbiz.de/10014635647
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Firm Adaptation to Climate Change
Grover, Arti - 2024
We survey the microeconomics literature that studies how firms in the developing world are adapting to extreme weather, local pollution, and natural disasters. Climate change increases the uncertainty that every firm must address as it decides where and how to produce and who to trade with. We...
Persistent link: https://www.econbiz.de/10015056174
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Disasters with Unobservable Duration and Frequency : Intensified Responses and Diminished Preparedness
Acharya, Viral V.; Johnson, Tim; Sundaresan, Suresh M.; … - National Bureau of Economic Research - 2023
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 … full information and pay less for insurance against the next disaster …
Persistent link: https://www.econbiz.de/10014247988
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The Evolving Market for Catastrophic Event Risk
Froot, Kenneth A. - 1999
This paper discusses the recent changes in the market for catastrophe risk. These risks have traditionally been distributed through the insurance and reinsurance systems. However, because insurance companies tend to share relatively small amounts of their cat exposures and because insurance...
Persistent link: https://www.econbiz.de/10012471496