We study how international trade networks react to natural disasters. We combine exhaustive firm-to-firm trade credit and disaster data and use a dynamic difference-indifferences identification strategy. We establish the causal effect of natural disasters abroad on the size, shape and quality of...

The paper, starting with the flood disaster that erupted in Henan in July 2021 and taking the enterprise charity practice of EREK as a single case research object, discusses why a bankrupt company can revive from charitable donation. The paper, putting forward the mechanism of enterprise...

This study provides new causal evidence for the impact of a large-scale natural disaster on local economic activity in Iran using nighttime light intensity. We apply the synthetic control method (SCM) and nighttime light (NTL) data from 1992 to 2020 for 31 provinces and 429 counties to study the...

In July 2021, severe floods devastated parts of Germany, causing numerous casualties and extensive damage to property and infrastructure. As climate change is expected to increase the frequency and severity of such extreme weather events, understanding their social implications is crucial. Using...

Background: Each disaster has its specific resource requirements, varying based on its size, location, and the affected region's socio-economic level. Pre-disaster planning and post-disaster dynamic resource allocation including material and human resources is essential. Methods: To address the...

Background: The increasing frequency and severity of extreme weather events (EWEs) as a consequence of climate change pose critical challenges on the transport and logistics sector, hence requiring systematic evaluation and strategic adaptation. Methods: This study conducts a comprehensive...

As climate change intensifies, flood events are becoming more frequent and more destructive across Europe. In Germany, catastrophic floods in 2021 caused over EUR 40 billion in damages, prompting a large-scale government aid response. At the same time, only about 50 percent of residential...

This paper examines the impact of natural disasters on fiscal and external sustainability across 134 economies from 1980 to 2023. We adopt a two-step approach: first, we estimate country-specific, time-varying sustainability coefficients; second, we assess their determinants using Weighted Least...

We empirically investigate the economic impact of natural disasters on food prices and production. We address the key issues of data aggregation and counterfactual biases. Our data set consists of regional information on prices and production for fourteen food products in Peru. This granularity...

We document that compared to all other investor groups investment funds exhibit a distinctly procyclical behavior when financial-market beliefs about the probability of a euro-related, institutional rare disaster spike. In response to such euro disaster risk shocks, investment funds shed...

Heterogeneous monopolists produce goods using either brown technology, which relies on labor and carbon energy, or green technology, which relies solely on labor. R&D firms enhance productivity using labor to outcompete existing monopolists, thereby driving economic growth. The extraction of...

This paper provides a model to interpret the relative behavior of expected returns of high- and low-resilience assets from the time of the COVID-19 pandemic, including a novel definition of disaster based on COVID-19 intensity. The setup allows us to disentangle the probability of disaster and...

We study the electoral repercussions of the L'Aquila earthquake in 2009, one of Italy's most catastrophic post-WWII seismic events. We construct a unique municipality-level dataset, combining high-resolution data on the ground acceleration recorded during the earthquake with European election...

Climate change is causing more frequent and devastating natural disasters. The goal of this paper is two-fold. First, it examines the dynamic effects of natural disasters on the growth of output and its components. Government expenditure in advanced economies (AEs) rises immediately in the same...

This study investigates the impact of rising risk of natural disasters on rule-based fiscal frameworks. It explores the extent to which countries adhere to their fiscal rules in the presence of rising risk of natural disasters. To ensure a consistent analysis, we construct an index measuring the...

We explore the effect of (big) shocks on the allocation of (bilateral) aid using natural disasters as natural experiments. We find that aid commitment statistically significantly increases following natural disasters, and that humanitarian aid precedes structural aid. While we find that the...

In July 2021, severe floods devastated parts of Germany, causing numerous casualties and extensive damage to property and infrastructure. As climate change is expected to increase the frequency and severity of such extreme weather events, understanding their social implications is crucial. Using...

Sarah Gust führte diese Studie während ihrer Tätigkeit am ifo Institut durch. Die Studie wurde im September 2024 abgeschlossen und als Dissertation an der Volkswirtschaftlichen Fakultät der LMU München angenommen. Sie besteht aus drei eigenständigen empirischen Essays, die...