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We examine the impact of 51 terrorist attacks, three wars, an assassination, and other national security-related shocks on stock markets located in nations proximate to the crises and on American Depository Receipts (ADRs) of firms headquartered in those same nations. ADRs are securities that...
Persistent link: https://www.econbiz.de/10012936246
The impact of natural disasters on the Australian equity market is examined. The data set employed consists of daily price and accumulation returns over the period 31 December 1982-1 January 2002 for the All Ordinaries Index (AOI) and a record of 42 severe storms, floods, cyclones, earthquakes...
Persistent link: https://www.econbiz.de/10014066005
The climate change impacts on sea level rise and coastal disasters, and the possible adaptation responses have been studied using very different approaches, such as very detailed site-specific engineering studies and global macroeconomic assessments of costal zones vulnerability. This paper...
Persistent link: https://www.econbiz.de/10010225975
Asia and the Pacific? This paper considers three main disaster risk factors - rising population exposure, greater …. In a regression analysis within a model of disaster risk determination, the most significant association is between the …
Persistent link: https://www.econbiz.de/10009781147
The climate change impacts on sea level rise and coastal disasters, and the possible adaptation responses have been studied using very different approaches, such as very detailed site-specific engineering studies and global macroeconomic assessments of coastal zones vulnerability. This paper...
Persistent link: https://www.econbiz.de/10014149917
Persistent link: https://www.econbiz.de/10003702651
Cummins, Doherty, and Lo (2002) present a theoretical and empirical analysis of the capacity of the property liability insurance industry in the U.S. to finance catastrophic losses. In their theoretical analysis, they show that a sufficient condition for capacity maximization is for all insurers...
Persistent link: https://www.econbiz.de/10013405928
This paper presents a large panel study on the macroeconomic consequences of natural catastrophes and analyses the extent to which risk transfer to insurance markets facilitates economic recovery. Our main results are that major natural catastrophes have large and significant negative effects on...
Persistent link: https://www.econbiz.de/10013064802
We compare the realised impact of terrorism and disasters linked to natural hazards. Using fifty years of data from two … impactful than terrorism. The former had a larger realised impact in all regions in both gross and per-capita terms. The largest … cross-peril difference was in Asia, where natural hazard disasters took 324 million Lifeyears, while terrorism took ten …
Persistent link: https://www.econbiz.de/10013337593
In recent years, certain states facing a high probability of catastrophic hurricane and earthquake exposures have added the burden of socializing the risk of individual and business property losses instead of leaving these private actions subject to voluntary insurance markets. In turn, these...
Persistent link: https://www.econbiz.de/10013098694