Climate risk management in Malawi's financial sector is a pressing issue that demands immediate attention. Globally, the urgency of addressing climate change is escalating, and many African countries are taking proactive steps to mitigate its financial implications. Kenya, Tanzania, and Morocco,...

This country profile analyzes gender gaps in the disaster risk management (DRM) agenda in Jamaica that influence the exposure and vulnerability, preparedness, and coping capacity of different populations. Identified gender gaps need to be considered when preparing and implementing DRM policies,...

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...

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...

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...

The changing climate requires businesses to take adaptive action. A key prerequisite for optimal adaptive action is that businesses are aware of the climate risks that they face. This, in turn, necessitates that businesses do not base their risk perception solely on prior experience, or a lack...

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...

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...

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...

Europe lags behind the United States in investing in weather resilience. Durable real estate capital is at greater risk. Migration facilitates adaptation. Government policies often have unintended consequences for resilience. Need for metrics to benchmark adaptation progress both within 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...

Managing the impacts of disasters in emerging markets is an urgent necessity as climate related shocks grow in frequency and intensity. Governments face fiscal constraints, and insurance penetration remains low. This policy note outlines a structured approach to mobilizing public-private...

Somalia is highly exposed to climatic shocks. According to the Notre Dame Global Adaptation Initiative (NG-GAIN) ranking, Somalia is the most vulnerable country in the world to climate change. Somalia is one of the most vulnerable countries in the world to climate change. Within the country,...

This disaster risk finance (DFR) diagnostic was prepared by the World Bank Finance, Competitiveness and Innovation Global Practice in response to a request from the Government of Zimbabwe (GoZ) for a study to assess the institutional, legal, and financial planning for financing of disaster risk...

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...