a redistributive growth model by introducing exposure of households and firms to extreme weather events, that damage …

six-variable system supports time variation in US monetary policy shock identification. In the sample-dominating first … stimulus, features the liquidity effect, and is complemented by a pure term spread shock. Absent the specific monetary policy …

in the consumption-income ratio that occur during disaster periods or whether, on the other hand, consumers become more … forward-looking and therefore give more weight to these expectations during disaster times. Our theoretical framework implies … higher during disaster episodes. We check this both for past disasters and the current Covid-19 pandemic through the …

). The third shock is 9 May 2010. Our modelling includes leverage and asymmetric effects undertaken in the context of a …

shock, or they exclude contemporaneous values of these variables from the monetary authority's information set. This paper … advantage that it makes the exercise less vulnerable to potential misidentification of the US monetary policy shock. The results …