This paper intends to further understanding of catastrophic events by reviewing the economic literature on their effects as well as potential means of dealing with the corresponding risks and uncertainties. Since 2000, the world has seen a number of catastrophes including terrorist attacks in...

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...