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Risking more, losing more : thinking about risk and resilience -- Looking back : the evolution of how we talk about … risk -- A different perspective : the social production of risk -- Culture and the production of risk -- Organizations …, institutions, and the production of risk -- Communities and societies at risk -- Defining resilience in relation to risk …
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The rare disaster hypothesis suggests that the extraordinarily high postwar U.S. equity premium resulted because … in theory, empirical tests of the rare disaster explanation are scarce. We estimate a disaster-including consumption … thus provide empirical support for the rare disaster hypothesis, and help reconcile the nexus between real economy and …
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We specify a stochastic economy-climate model, adapting Nordhaus' deterministic economy-climate model by allowing for Weitzman-type stochasticity. We show that, under expected power utility, the model is fragile to heavy-tailed distributional assumptions and we derive necessary and sufficient...
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