from those of emerging countries. I then estimate distinct disaster risk parameters for these two country groups. My … Bayesian analysis demonstrates that in some aspects advanced countries are more exposed to disaster risk, while in others their … persistent. Advanced countries are also more likely to experience a global disaster, whereas disasters in emerging countries tend …

haphazard the estimation of equity risk premiums remains in practice. We begin this paper by looking at the economic …

To confront the challenge that disaster risk is “dark matter” in finance, we construct an objective measure of disaster … significant predictability, we find no supportive, and often contradictory, evidence of higher predicted disaster risk being … spreads, or higher term spreads. Our results suggest that the subjective disaster risk mirrored by asset prices lags objective …