Natural disasters have a statistically observable adverse impact on the macro-economy in the short-run. Not surprisingly, costlier events cause more pronounced slowdowns in production. Yet, interestingly, developing countries, and smaller economies, face much larger output declines following a...

We investigate the output effects of severe banking and currency crises in emerging markets, focusing on whether "twin crises" (simultaneous occurrence of currency and banking crises) exist as a unique phenomenon and whether they entail especially large losses. Recent literature, mostly relating...

The standard approach to 'nowcast' disaster impacts, which relies on risk models, does not typically account for the compounding impact of various hazard phenomena (e.g., wind and rainfall associated with tropical storms). The alternative, traditionally, has been a team of experts sent to the...