We study adaptation to climate change in a federalist setting. To protect themselves against an increase in flood risk …

unfounded. I show that the claim that we “view the world in perspective” implies hyperbolic rather than constant discounting …

spatial shifts of economic activity after a natural disaster are a rather local phenomenon, stressing the importance of local …

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 … effect of disasters on growth. The worst 5% disaster years come with a growth damage of at least 0.45 percentage points. That …

devastating human and economic impacts, a potential spillover benefit of greater disaster exposure may be a more tightly knit …

disaster. The paper concludes by reflecting on what we know about whether policies to confront natural disasters should be …