This review examines the literature on the welfare impacts of infrastructure disruptions. There is widespread evidence that households suffer from the consequences of a lack of infrastructure reliability, and that being connected to the grid is not sufficient to close the infrastructure gap....

Large-scale disasters regularly affect societies over the globe, causing large destruction and damage. After each of these events, media, insurance companies, and international institutions publish numerous assessments of the “cost of the disaster.” However these assessments are based on...

Assuming that capital productivity is higher in areas at risk from natural hazards (such as coastal zones or flood plains), this paper shows that rapid development in these areas-and the resulting increase in disaster losses-may be the consequence of a rational and well-informed trade-off...

Based on an IO structure, the ARIO-inventory model simulates the economic consequences and responses to a natural disaster. It represents explicitly production bottlenecks, models a flexibility in production capacity in case of scarcity, and introduces inventories as an additional flexibility in...

In Europe, it can be estimated that hydro-meteorological information and early warning systems save several hundreds of lives per year, avoid between 460 million and 2.7 billion Euros of disaster asset losses per year, and produce between 3.4 and 34 billion of additional benefits per year...

This paper investigates the link between development, economic growth, and the economic losses from natural disasters in a general analytical framework, with an application to hurricane flood risks in New Orleans. It concludes that where capital accumulates through increased density of capital...

Investment decision making is already difficult for any diverse group of actors with different priorities and views. But the presence of deep uncertainties linked to climate change and other future conditions further challenges decision making by questioning the robustness of all purportedly...