impact on GDP growth. Salience of rare disasters through media coverage increases the disaster probability by up to 7 …. Respondents perceive a high probability of costly, rare disasters in the near future due to climate change, but not much of an … percentage points. We analyze these findings through the lens of a New Keynesian model with rare disasters. First, we illustrate …

Recent research in financial economics has shown that rare large disasters have the potential to disrupt financial … effects on the macroeconomy. Research on disaster risks has also actively been pursued in the macroeconomic models of climate … change. Our paper uses insights from the former work to study disaster risks in the macroeconomics of climate change and to …

Recent research in financial economics has shown that rare large disasters have the potential to disrupt financial …?ects on the macroecon-omy. Research on disaster risks has also actively been pursued in the macroeconomic models of climate … change. Our paper uses insights from the former work to study disaster risks in the macroeconomics of climate change and to …

consumers. Respondents expect not much of an impact on GDP growth, but perceive a high probability of costly, rare disasters … consumption, various information treatments and over time. We calibrate a New Keynesian model with rare disasters to key results …

in a representative survey of U.S. consumers. We find, in particular, that costly natural disasters are salient of … climate change. Second, we calibrate a New Keynesian model with rare disasters to the survey results and find that shifts in …