This study finds that natural shocks -- storms in particular -- are a significant and often leading cause for power supply disruptions. This finding is based on 20 years of high frequency (i.e. daily) data on power outages and climate variables in 28 countries -- Bangladesh, the United States...

In recent decades most developed countries have experienced an increase in income inequality. In this paper, we use an equilibrium search framework to shed additional light on what is causing an income distribution to change. The major benefit of the model is that it can accommodate shocks to...