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What policy space does a country have for a short-term response to a catastrophic event? To quantify this space, the paper proposes a policy space index. The index combines a quantitative, albeit relatively limited and narrow, fiscal space concept with the indicators of nominal monetary space...
Persistent link: https://www.econbiz.de/10014081237
This paper presents a Markov switching dynamic stochastic general equilibrium model designed to evaluate the macroeconomic return of adaptation investment to natural disasters (NDs) and the impact of climate change. While the model follows the existing literature in assuming that NDs destroy a...
Persistent link: https://www.econbiz.de/10014353544
targets with expected disaster shocks. This paper contributes to the literature and policy dialogue by theoretically analyzing …
Persistent link: https://www.econbiz.de/10012860997
ex-ante preparedness is needed to manage the risks. The paper discusses sovereign experience with disaster insurance as a … use by vulnerable countries. The paper especially aims to inform policy decisions on disaster insurance. Through …
Persistent link: https://www.econbiz.de/10012840602
average. We find that countries that have in place disaster preparedness mechanisms and lower public debt have lower … probability of witnessing a significant drop in growth as a consequence of a natural disaster, but our innovative methodology in … this paper finds that the two policies are complements since their effectiveness vary across different disaster scenarios …
Persistent link: https://www.econbiz.de/10013306749
natural disaster shocks in general tend not to be statistically significant, international assistance to low income countries … increases following geological disaster shocks. Furthermore, the results show that typically, other private capital flows (bank …
Persistent link: https://www.econbiz.de/10014178702
are based on a Monte-Carlo experiment that simulates natural disaster shocks and their impact on output and government …
Persistent link: https://www.econbiz.de/10013250095
facing large natural disaster shocks. The modeldemonstrates the key trade-off between building up sufficient retirement … savings andensuring the access to savings against natural disaster shocks, and sheds light on welfareimplications of early …
Persistent link: https://www.econbiz.de/10012913890
for disaster shocks for the Pacific islands. Better incorporating the economic impact of natural disasters in the medium …
Persistent link: https://www.econbiz.de/10012913925
Resilience to climate change and natural disasters hinges on two fundamental elements: financial protection -insurance and self-insurance- and structural protection -investment in adaptation. Using a dynamic general equilibrium model calibrated to the St. Lucia's economy, this paper shows that...
Persistent link: https://www.econbiz.de/10012889136