This paper investigates the effect of natural disasters on tourism expenditure. We exploit the natural experiment of the recent volcanic eruption in La Palma (2021), an island in the archipelago of Canary Islands (Spain), to analyze the effect of the volcanic eruption on both aggregate...

The Asia-Pacific region is witnessing rapid economic growth. Along with rising incomes, the lifestyles of the large middle class are moving quickly towards a buy-and-discard consumer model that involves carbon-intensive products and services. These increase dependency on the Earth's finite...