sectors via the destruction of capital stocks and jumps in risk premia. These disruptions often entail negative feedback e …?ects on the macroecon-omy. Research on disaster risks has also actively been pursued in the macroeconomic models of climate … change. Our paper uses insights from the former work to study disaster risks in the macroeconomics of climate change and to …

disaster-prone areas of the world, it has one of the lowest levels of insurance coverage. This paper examines the vulnerability … that vulnerability. The paper finds that catastrophic risk insurance significantly improves Belize''s debt sustainability …

We augment a linearized dynamic stochastic general equilibrium (DSGE) model with a tractable endogenous risk mechanism … their conditional distributions. In particular, the model matches the key stylized facts of growth at risk. Accounting for …

drops by 0.7 percentage point in the year of the disaster. We also find that, during 1980-2014, trend growth was 0 … countries' risk-management capacities. It highlights how this approach can provide a more strategic and less ad hoc framework …

This paper quantifies the savings obtained from risk pooling with a Regional Stabilization Fund (RSF) for the Eastern … depletion under specific saving-withdrawal rules. Results indicate that regional risk pooling requires about half of the saving …

Natural disaster risk is emerging as an increasingly important constraint on economic development and poverty reduction … dealing with disaster risk. Key sources of market failure include the difficulty of risk spreading and, perhaps even more …. This paper first sets out the key stylized facts in the area-that the costs of disaster have been increasing, seem set to …