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The Fiscal Cost of Hurricanes : Disaster Aid Versus Social Insurance

Deryugina, Tatyana - 2016

specifically target extreme weather events. This paper shows that US hurricanes lead to substantial increases in non-disaster … hurricane. The present value of this increase significantly exceeds that of direct disaster aid. This implies, among other …

Persistent link: https://www.econbiz.de/10012456403

Organization of Disaster Aid Delivery : Spending Your Donations

Henderson, J. Vernon - 2011

quality of aid delivered and social agendas pursued across neighboring villages in a set disaster context. We model the …

Persistent link: https://www.econbiz.de/10012460950

Katrina's Children : Evidence on the Structure of Peer Effects from Hurricane Evacuees

Imberman, Scott - 2009

In 2005, hurricanes Katrina and Rita forced many children to relocate across the Southeast. While schools quickly enrolled evacuees, receiving families worried about the impact of evacuees on non-evacuee students. Data from Houston and Louisiana show that, on average, the influx of evacuees...

Persistent link: https://www.econbiz.de/10012463359

When The Saints Come Marching In : Effects of Hurricanes Katrina and Rita on Student Evacuees

Sacerdote, Bruce - 2008

following the hurricane. However, by the second and third years after the disaster, Katrina evacuees displaced from Orleans …

Persistent link: https://www.econbiz.de/10012464262

What Determines Giving to Hurricane Katrina Victims? Experimental Evidence on Income, Race, and Fairness

Fong, Christina M. - 2007

We investigate determinants of private and public generosity to Katrina victims using an artifactual field experiment. In this experiment, respondents from the general population viewed a short audiovisual presentation that manipulated respondents' perceptions of the income, race, and...

Persistent link: https://www.econbiz.de/10012465435

A General Rationale for a Governmental Role in the Relief of Large Risks

Shavell, Steven - 2014

The government often provides relief against large risks, such as disasters. A simple, general rationale for this role of government is considered here that applies even when private contracting to share risks is not subject to market imperfections. Specifically, the optimal private sharing of...

Persistent link: https://www.econbiz.de/10012458472

Rare Disasters, Financial Development, and Sovereign Debt

Rebelo, Sérgio - 2018

We propose a model of sovereign debt where countries vary in their level of financial development, defined as the extent to which countries can hedge rare disasters in international capital markets. We show that low levels of financial development generate the "debt intolerance" phenomenon that...

Persistent link: https://www.econbiz.de/10012480684

Options-Pricing Formula with Disaster Risk

Barro, Robert J. - 2016

A new options-pricing formula applies to far-out-of-the money put options on the overall stock market when disaster … multiplicative term that is proportional to the disaster probability, p. If γ and the size distribution of disasters are fixed, time … variations in p can be inferred from time fixed effects. The estimated disaster probability peaks particularly during the recent …

Persistent link: https://www.econbiz.de/10012456784

The Welfare Gains from Macro-Insurance Against Natural Disasters

Borensztein, Eduardo - 2015

This paper uses a dynamic optimization model to estimate the welfare gains that a small open economy can derive from insuring against natural disasters with catastrophe (CAT) bonds. We calibrate the model by reference to the risk of earthquakes, floods and storms in developing countries. We find...

Persistent link: https://www.econbiz.de/10012456995

Rare Booms and Disasters in a Multi-sector Endowment Economy

Tsai, Jerry - 2014

Why do value stocks have higher average returns than growth stocks, despite having lower risk? Why do these stocks exhibit positive abnormal performance while growth stocks exhibit negative abnormal performance? This paper offers a rare-events based explanation that can also account for the high...

Persistent link: https://www.econbiz.de/10012458602