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 …

-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 …

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. …

We investigate the trade-off between the risk-sharing gains enjoyed by more interconnected firms and the costs … resulting from an increased risk exposure. We find that when the shock distribution displays "fat" tails, extreme segmentation …

Jesús Fernández-Villaverde, Pablo A. Guerrón-Quintana, Juan F. Rubio-Ramírez and Martín Uribe (2011) find that risk … rate risk shock increases by 63 percent and the contribution of interest rate risk shocks to business cycle volatility more … than doubles. Hence, risk matters more in the recalibrated model. However, the recalibrated model does worse in capturing …

of optimal risk-sharing in mortgage contracts. But since only a small literature has studied this question, more research … termination via prepayment or default affects optimal risk-sharing. The broad conclusion of the analysis is that potential … mortgage termination makes higher risk exposure for borrowers optimal. …