Federal disaster insurance–in the form of national flood insurance, the Federal Emergency Management Agency (FEMA), and other programs–is designed to nationally-distribute large geography-specific shocks like earthquakes and hurricanes. This study examines the local long-run distributionary...

The insurance coverage for natural disasters remains low in many exposed areas, particularly in Latin America and the Caribbean. Reduced availability or unaffordability of insurance are commonly identified as the primary causes for this low insurance coverage. The French overseas departments...

Not very. We find that weather disasters over the last quarter century had insignificant or small effects on U.S. banks' performance. This stability seems endogenous rather than a mere reflection of federal aid. Disasters increase loan demand, which offsets losses and actually boosts profits at...

Cyberattacks have the potential to cause simultaneous, very large losses to numerous firms across the globe, thus resulting in a cyber “catastrophe.” Moreover, there are plausible reasons for believing that a future cyberattack could produce world-wide losses that are larger by an order of...