Showing 1 - 10 of 2,405
, and indicated whether they favored governmental disaster relief. For all hazards, including auto accident risks, most …-fifths of our respondents favor government relief for disaster victims, but only one-third do for victims in high-risk areas …
Persistent link: https://www.econbiz.de/10012466080
We provide the planner's solution to a model where households learn from exogenous natural disaster arrivals about … since disaster leads to pessimistic arrival-rate beliefs and taxes or mandates to fund mitigation, which reduce consumption …
Persistent link: https://www.econbiz.de/10012482023
This paper documents several facts on the real effects of economic uncertainty. First, higher uncertainty is associated with a more dispersed distribution of output growth. Second, the relation is highly asymmetric: A rise in uncertainty is associated with a sharp decline in the lower tail of...
Persistent link: https://www.econbiz.de/10012482243
This paper focuses on the interaction between uncertainty and insurability in the context of some of the risks associated with climate change. It discusses the evolution of insured losses due to weather-related disasters over the past decade, and the key drivers of the sharp increases in both...
Persistent link: https://www.econbiz.de/10012465836
How well do countries cope with the aftermath of natural disasters? In particular, do international financial flows help buffer countries in the wake of disasters? This paper focuses on hurricanes (one of the most common and destructive types of disasters), and examines the impact of hurricane...
Persistent link: https://www.econbiz.de/10012465865
pre-disaster trend, and do not recover within twenty years. Both rich and poor countries exhibit this response, with … suppression of annual growth rates spread across the fifteen years following disaster, generating large and significant cumulative … continuous exposure to disaster. Linking these results to projections of future cyclone activity, we estimate that under …
Persistent link: https://www.econbiz.de/10012458315
A growing body of evidence suggests that uncertainty is counter cyclical, rising sharply in recessions and falling in booms. But what is the causal relationship between uncertainty and growth? To identify this we construct cross country panel data on stock market levels and volatility as proxies...
Persistent link: https://www.econbiz.de/10012459187
How do innovators respond to the shock of a natural disaster? Do natural disasters spur technical innovations that can …, droughts and flooding on the innovation of their respective mitigation technologies. Using patent and disaster data, our study …
Persistent link: https://www.econbiz.de/10012459440
Insurance markets often feature consumer sorting along both an extensive margin (whether to buy) and an intensive margin (which plan to buy). We present a new graphical theoretical framework that extends the workhorse model to incorporate both selection margins simultaneously. A key insight from...
Persistent link: https://www.econbiz.de/10012480233
We study optimal investment in self-protection of insured individuals when they face interdependencies in the form of potential contamination from others. If individuals cannot coordinate their actions, then the positive externality of investing in self-protection implies that, in equilibrium,...
Persistent link: https://www.econbiz.de/10012465830