We test if and how banks adjust their lending in response to disaster risk in the form of a natural catastrophe … disaster shocks faced especially by small and medium firms. …

that reside in counties unaffected by the natural disaster that we specify as macro shock increase lending to firms inside …-seeking. However, within the group of shock-exposed banks, those without access to geographically more diversified interbank markets …

Governments face growing contingent liabilities from disasters as they tend to shoulder a significant share of disaster … response and recovery costs. Disaster shocks increase government expenditure and hamper economic activities. An increasing … have the potential to significantly enhance and boost systems for financial resilience against disaster shocks. Development …

macro-models with disaster shocks feasible. The estimation is carried out using the Sequential Monte Carlo sampler recently … model detects the occurrence of a large negative demand shock in consuming all kinds of goods, together with a large … negative demand shock in consuming contact-intensive products. On the supply side, our proposed method detects a large labor …