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...

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...

Australian bushfires are catastrophic, and their impacts span social, economic, and environmental factors. To reduce the damages experienced by bushfires, predicting Australian bushfire ignition allows for an early warning system to give first responders and disaster managers prompt and accurate...

Using longitudinal, nationally representative data from Australia, this study uncovers a previously undocumented pattern: in over half of cases where one household member reports weather-related home damage, their co-resident does not. This high rate of intra-household inconsistency is striking,...

Climate change poses a major risk to financial stability by affecting sovereign credit risk through transition and physical risks. Using data from 52 developed and developing countries over two decades, the study finds that transition risk leads to higher sovereign yields, especially in...

We introduce the first comprehensive publicly available dataset on county-level damages, injuries, and fatalities from natural disasters in the U.S. and present a few facts on the economic and human costs of extreme climate events. Our source is the National Oceanic and Atmospheric...

As climate change accelerates, transport networks face both direct and indirect disruptions, impacting trade, mobility, and economic stability. Extreme weather events damage critical infrastructure, isolating communities and disrupting supply chains, having a significant impact on economic...

This paper examines how natural disasters shape electoral preferences by analyzing the impact of earthquakes in Italy between 1990 and 2019. Using a staggered Difference-in-Differences design, we estimate that affected municipalities are more likely to elect female, more educated, and older city...

Disasters adversely affect mental well-being. However, little is known about their causal effects on diagnosed psychological disorders or the mediating role of earnings. This study uses a Synthetic Difference-in-Differences approach (SDID) to examine Cyclone Gabrielle’s impact on workers’...

In October 2001, the European Union established the EU Civil Protection Mechanism (UCPM). The UCPM aims to strengthen cooperation on civil protection among EU Member States and UCPM Participating States and to facilitate coordination in the field of civil protection in order to improve...

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...

Extreme weather events are becoming more frequent with climate change, yet cold stress events remain understudied. I use the 2021 Texas freeze to examine household adaptation to extreme weather-induced blackouts, focusing on (1) adaptation uptake, (2) socio-economic disparities in adaptive...

This study examines the impact of the 2009 earthquake in L′Aquila on the local tourism industry through the use of the Synthetic Control Method (SCM). Our findings have revealed a sharp decline in tourism supply in the short term, due to extensive infrastructural damage. Although governmental...

This paper examines the role of disaster risk management (DRM) policies implemented by Brazilian municipalities in mitigating the social damage caused by flooding. Specifically, we analyze three commonly adopted DRM policies by local governments: flood risk mapping, supervision of flood-prone...

This evaluation analyses the suitability of the EIB's framework loan product in addressing disasters and emergencies. It found that framework loans perform particularly well in the reconstruction phase and are potentially well suited to prevention and preparedness. However, where time is of the...

This paper examines the compounded effects of conflict on household recovery following disasters, using Nigeria as a case study. The analysis employs the "Unbreakable" microsimulation model to analyze how proximity to conflict influences recovery rates and well-being, measured by consumption...

The paper examines the effects of extreme weather events-specifically floods, extreme temperatures, bushfires, and droughts-on per capita energy consumption across 141 countries from 1990 to 2023. While existing research often aggregates various natural disasters or focuses on localized...

Efficient supply chain models are crucial for ensuring swift medical intervention and the timely delivery of essential supplies in disaster management. This study focuses on optimizing disaster relief efforts in meteorological disasters, specifically flash floods triggered by cloudburst events....

Resilient and adaptive strategies for recovery have been underscored by supply chain disruptions induced by natural disasters, pandemics, and wars. Supply chain resilience protects enterprises, communities, and humanitarian activities during pandemics and wars. This study investigates the...

This study explores the heterogeneous and asymmetric macro-financial effects of climate change in CESEE countries, depending on the level of underlying macrofinancial vulnerabilities. Focusing solely on acute physical risks - those arising from extreme weather events - it employs panel quantile...

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...

The COVID-19 pandemic potentially affected stock prices in two non-mutually exclusive ways: discount rates and cash flows. This paper focuses on the latter and analyzes it through the lens of an asset-pricing model. It shows how workplace resilience and financial resilience interacted and...