sectors via the destruction of capital stocks and jumps in risk premia. These disruptions often entail negative feedback … effects of rare large disasters resulting in capital losses and rising risk premia. Our proposed multi-phase dynamic model …

sectors via the destruction of capital stocks and jumps in risk premia. These disruptions often entail negative feedback e … explore this causal nexus and the e?ects of rare large disasters resulting in capital losses and rising risk premia. Our …