; natural disaster relief expenditure ; narrative approach ; structural vector-autoregressive model …

-term (one year) after a disaster event - the results we present suggest that the share of public spending on disaster relief, at …

generations. Market-based solutions, such as private insurance for those exposed to climate-change risk, are strongly opposed …

This paper analyses the importance of fiscal mechanisms for regional risk sharing and redistribution in Switzerland …

The argument that policy risk, i.e., uncertainty about monetary and fiscal policy, has been holding back the economic … recovery in the U.S. during the Great Recession has a large popular appeal. We analyze the role of policy risk in explaining … business cycle fluctuations by using an estimated New Keynesian model featuring policy risk as well as uncertainty about …

recessions. First, we show that the consumption risk of short-time work is considerably smaller compared to unemployment using … risk of workers, which mitigates their precautionary savings motive. Using a quantitative model analysis, we show that this …