It has been argued that rare economic disasters can explain most asset pricing puzzles. If this is the case, perceived … the perceived risk of disasters (both probability and expected size) that is consistent with observed portfolios and … a college degree can be partially explained by expectations of stock market disasters only if one allows for a large …

We show that property damages from weather-related natural disasters significantly weaken the stability of banks with … disasters occur during that time. …

We document that natural disasters significantly weaken the stability of banks with business activities in affected … find that the adverse effects on bank stability dissolve after some years if no further disasters occur in the meantime. …