recent trends in the world economy: the global financial crisis and the 2011 Japanese natural disasters (tsunami, earthquake …

financial impacts of a major disaster, should be made 18 to 24 months after the event. It should be taken into account in …

We show that the slight possibility of a macroeconomic disaster of moderate magnitude can explain important features …

I propose a rare disaster model of an economy where disasters are driven by CO2 levels that are determined by inputs of … carbons from the firms of the economy. The probability and intensity of disaster are determined in part by the level of CO2 in … and risk premium. However, if the probability of climatic disaster rises sufficiently, these relationships can change. I …