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Recent theoretical work in the economics of climate change has suggested that climate policy is highly sensitive to ‘fat-tailed’ risks of catastrophic outcomes (Weitzman, 2009b). Such risks are suggested to be an inevitable consequence of scientific uncertainty about the effects of increased...
Persistent link: https://www.econbiz.de/10013315705
This paper studies the evolution of hurricane insurance in Florida over the last decades. Hurricanes (and other natural … insurance cover from the private market and/or can do so only at premiums that substantially exceed their expected claims costs … levels with the creation of Citizens Property Insurance Corporation (an insurer of last resort) and the Florida Hurricane …
Persistent link: https://www.econbiz.de/10013316322
The possibility of low-probability extreme events has reignited the debate over the optimal intensity and timing of climate policy. In this paper we therefore contribute to the literature by assessing the implications of low-probability extreme events on environmental policy in a continuous-time...
Persistent link: https://www.econbiz.de/10013139799
Does trade openness cause higher GDP per capita? Since the seminal instrumental variables (IV) estimates of Frankel and Romer [F&R](1999) important doubts have surfaced. Is the correlation spurious and driven by omitted geographical and institutional variables? In this paper, we generalize F&R's...
Persistent link: https://www.econbiz.de/10013121825
disaster. The paper concludes by reflecting on what we know about whether policies to confront natural disasters should be …
Persistent link: https://www.econbiz.de/10013083868
Economic theory predicts that adverse shocks during early childhood have detrimental short- and long-run consequences for children's development. We examine this hypothesis by analyzing the short-and long-run effects on children's health and education of a specific shock: housing damages caused...
Persistent link: https://www.econbiz.de/10013083878
literature does not offer conclusive evidence. Most existing studies use disaster data drawn from damage records of insurance … GDP. We build a comprehensive database of disaster events and their intensities from primary geophysical and … meteorological information. In contrast to insurance data, our GeoMet data reveal a substantial negative and robust average impact …
Persistent link: https://www.econbiz.de/10013073607
research on the topic of disasters. As such, we choose to focus on two topics: price gouging, and post-disaster economic …
Persistent link: https://www.econbiz.de/10012964378
The Pacific Islands face the highest disaster risk, in per capita terms, globally. Examples of catastrophic events in … analysing the applicability of various financial instruments to facilitate both ex-ante and ex-post disaster risk management in …
Persistent link: https://www.econbiz.de/10012964696
We utilize the individual-level World War I Draft Registration Cards matched to late-nineteenth century hurricane paths and the 1940 U.S. Census to explore whether fetal and early childhood exposure to stress caused by hurricanes affects human capital development and labor market outcomes in...
Persistent link: https://www.econbiz.de/10012977164