Dynamic Economic Resilience and Economic Recovery from Disasters: A Quantitative Assessment

Towards a Theory of Economic Recovery from Disasters

Measuring Economic Resilience to Natural Disasters with Big Economic Transaction Data

This research explores the potential to analyze bank card payments and ATM cash withdrawals in order to map and quantify how people are impacted by and recover from natural disasters. Our approach defines a disaster-affected community’s economic recovery time as the time needed to return to baseline activity levels in terms of number of bank card payments and ATM cash withdrawals. For Hurricane...

Disasters and Development: Natural Disasters, Credit Constraints and Economic Growth

We demonstrate, using a simple two-period equilibrium model of the economy, the potential effects of extreme event occurrences such as natural or humanitarian disasters on economic growth over the mediumto long-term. In particular, we focus on the effect of such shocks on investment. We examine two polar cases; an unconstrained economy where agents have access to perfect capital markets, versus...

Normalizing economic loss from natural disasters: A global analysis

Climate change is likely to lead to an increase in the frequency and/or intensity of certain types of natural hazards, if not globally, then at least in certain regions. All other things equal, this should lead to an increase in the economic toll from natural disasters over time. Yet, all other things are not equal since affected areas become wealthier over time and rational individuals and gov...

Limited Enforcement, Financial Intermediation and Economic Development: A Quantitative Assessment∗

We present a model of economic development where the importance of financial differences caused by limited enforcement can be measured. Economies where enforcement is poor direct less capital to the production sector, and employ less efficient technologies. Calibrated simulations reveal that the resulting effect on output is large. Furthermore, the model correctly predicts that the average scal...