-probability extreme events on environmental policy in a continuous-time real options model with "tail risk". In a nutshell, our results … indicate the importance of tail risk and call for foresighted pre-emptive climate policies. -- climate policy ; extreme events …

. Uncertainty about the future rate of growth of the economy and emissions and the risk of macroeconomic disasters (tail risks) also …

price, the equilibrium risk-free rate, and risk premia. Climate disasters, which are more likely to occur sooner as … temperature rises, significantly increase risk premia. …

Using an economic model to assess welfare risk and resilience to disasters, this paper systematically tackles the … losses at the microeconomic level. Apart from the prioritization of regions based on resilience and welfare risk, we identify … risk from riverine floods. While there are similarities in the ranking of policies among regions with comparable levels of …

This study provides new causal evidence for the impact of a large-scale natural disaster on local economic activity in … disaster relief during the reformist government of President Khatami, the political trust and mobilization of civil society in …, economic activity in Bam County returns to its pre-disaster development path after seven years. …

disaster risk reduction and climate adaptation in Bangladesh, a country with a very high exposure to weather risk. We use a … comprehensive dataset for the 483 subdistricts (Upazilas) in Bangladesh, tracking disaster risk reduction and adaptation funding … does proximity to the centres of Dhaka and Chittagong. Public spending for adaptive disaster risk reduction, as …

long-run analysis, we employ local projections to capture the short-term dynamics following disaster-related mortality … disaster shocks, whereas external sustainability responses are more muted and heterogeneous. Together, these findings highlight … macroeconomic channels and to inform adaptive, risk-sensitive fiscal policy frameworks. …