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Moral Hazard, Wildfires, and the Economic Incidence of Natural Disasters
Baylis, Patrick - 2019
This study measures the degree to which large public expenditures on wildfire protection subsidize development in harm's way. Using administrative firefighting data, we calculate geographically-differentiated implicit subsidies to homeowners throughout the western USA. We first examine how the...
Persistent link: https://www.econbiz.de/10012480494
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Mitigating Disaster Risks to Sustain Growth
Hong, Harrison - 2020
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
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Uncertainty and Growth Disasters
Jovanovic, Boyan - 2020
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
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Climate Change, Insurability of Large-scale Disasters and the Emerging Liability Challenge
Kunreuther, Howard C. - 2007
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
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Coping with Disaster : The Impact of Hurricanes on International Financial Flows, 1970-2002
Yang, Dean - 2006
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
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The Causal Effect of Environmental Catastrophe on Long-Run Economic Growth : Evidence From 6,700 Cyclones
Hsiang, Solomon M. - 2014
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
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Does Uncertainty Reduce Growth? Using Disasters as Natural Experiments
Baker, Scott R. - 2013
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
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Necessity as the Mother of Invention : Innovative Responses to Natural Disasters
Miao, Qing - 2013
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
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Disaster Management
Van Reenen, John; Norris Keiller, Agnes - National Bureau of Economic Research - 2024
such disasters and adapt to their increased frequency. We examine this issue using a the latest wave of the World …
Persistent link: https://www.econbiz.de/10014576624
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Estimating the Economic Value of Zoning Reform
Anagol, Santosh; Ferreira, Fernando Vendramel; Rexer, … - National Bureau of Economic Research - 2021
We develop a framework to estimate the economic value of a recent zoning reform in the city of Sao Paulo, which altered maximum permitted construction at the city-block level. Using a spatial regression discontinuity design, we find that developers file for more multi-family construction permits...
Persistent link: https://www.econbiz.de/10012660117