-free measures of disaster risk in asset markets derived from daily options data, we document direct and spillover effects …. Critically, the announcement of the Fed's QE in response to the subprime crisis is followed by a reduction in disaster risk for … the US and, on average, an increase in emerging markets disaster risk. Conversely, interventions during the COVID-19 …

impact on GDP growth. Salience of rare disasters through media coverage increases the disaster probability by up to 7 … the survey and quantify the expectation channel of climate change: disaster expectations lower the natural rate of …