shock to the sector - a measure of the systemic risk of each sector. Tail centrality is theoretically and empirically very … downstream closeness to final production. The paper then uses the results to analyze the determinants of total tail risk in the … economy to small shocks while increasing the sensitivity to large shocks. Tail risk is strongest in economies that display …

have historically been associated with a substantial risk of a recession over the next one to two years. We argue that …

Flood events and flood risk have been increasing in the past few decades and have important consequences for the … flood risk has a large negative impact on firm entry, employment, and output in the long run; and (2) flood events reduce … a spatial equilibrium model to characterize how flood risk shapes firms' location choices and workers' employment, which …