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Earthquake risk embedded in property prices : evidence from five Japanese cities
Ikefuji, Masako; Laeven, Roger J. A.; Magnus, Jan R.; … - 2018
We analyze the impact of short-run and long-run earthquake risk on Japanese property prices. We exploit a rich panel … historical earthquake occurrences, supplemented with short-run earthquake probabilities that we generate from a seismic … distorted short-run and long-run earthquake probabilities have a significantly negative impact on property prices. Our approach …
Persistent link: https://www.econbiz.de/10011878803
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Earthquake Risk Embedded in Property Prices : Evidence from Five Japanese Cities
Ikefuji, Masako - 2018
We analyze the impact of short-run and long-run earthquake risk on Japanese property prices. We exploit a rich panel … historical earthquake occurrences, supplemented with short-run earthquake probabilities that we generate from a seismic … distorted short-run and long-run earthquake probabilities have a significantly negative impact on property prices. Our approach …
Persistent link: https://www.econbiz.de/10012914831
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Expected utility and catastrophic consumption risk
Ikefuji, Masako; Laeven, Roger J. A.; Magnus, Jan R.; … - In: Insurance / Mathematics & economics 64 (2015), pp. 306-312
Persistent link: https://www.econbiz.de/10011398086
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Natural disasters in a two-sector model of endogenous growth
Horii, Ryo; Ikefuji, Masako - 2010
Using an endogenous growth model with physical and human capital accumulation, this paper considers the sustainability of economic growth when the use of a polluting input (e.g., fossil fuels) intensifies the risk of capital destruction through natural disasters. We find that growth is...
Persistent link: https://www.econbiz.de/10008747549
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Expected utility and catastrophic risk in a stochastic economy-climate model
Ikefuji, Masako; Laeven, Roger J. A.; Magnus, Jan R.; … - 2010
Persistent link: https://www.econbiz.de/10008748390
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Weitzman meets Nordhaus : expected utility and catastrophic risk in a stochastic economy-climate model
Ikefuji, Masako; Laeven, Roger J. A.; Magnus, Jan R.; … - 2011
We specify a stochastic economy-climate model, adapting Nordhaus' deterministic economy-climate model by allowing for Weitzman-type stochasticity. We show that, under expected power utility, the model is fragile to heavy-tailed distributional assumptions and we derive necessary and sufficient...
Persistent link: https://www.econbiz.de/10009387847
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Environment and growth
Horii, Ryo; Ikefuji, Masako - 2014
This paper examines the implications of the mutual causality between environmental quality and economic growth. While economic growth deteriorates the environment through increasing amounts of pollution, the deteriorated environment in turn limits the possibility of further economic growth. In a...
Persistent link: https://www.econbiz.de/10010344293
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Expected utility and catastrophic risk
Ikefuji, Masako; Laeven, Roger; Magnus, Jan R.; Muris, Chris - 2014
An expected utility based cost-benefit analysis is in general fragile to its distributional assumptions. We derive necessary and sufficient conditions on the utility function of the expected utility model to avoid this. The conditions ensure that expected (marginal) utility remains finite also...
Persistent link: https://www.econbiz.de/10010412466
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The impact of natural disasters on economic growth
Ikefuji, Masako - In: Ōsaka Daigaku keizaigaku 55 (2006) 4, pp. 52-59
Persistent link: https://www.econbiz.de/10003366470
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Natural disasters in a two-sector model of endogenous growth
Ikefuji, Masako; Horii, Ryo - In: Journal of public economics 96 (2012) 9/10, pp. 784-796
Persistent link: https://www.econbiz.de/10009702477