{"title":"Can We Hedge an Investment Against A Potential Unexpected Environmental Disaster?","authors":"George Halkos, Argyro Zisiadou","doi":"10.1007/s41885-021-00085-4","DOIUrl":"https://doi.org/10.1007/s41885-021-00085-4","url":null,"abstract":"<p><p>The purpose of this paper is to examine whether there is a possible hedging technique against a potential unexpected hazard, that can secure the capital invested by individuals or corporations. More specifically, the traditional hedging techniques are presented and illustrating whether they can be applicable against unexpected environmental disasters. Moreover, the evolution of hedging techniques regarding the catastrophe disasters are presented in the papers. After illustrating hazard-prone areas with the use of mapping visualization, techniques or catastrophe risk management and risk minimizations are proposed in an attempt to reduce the direct and indirect losses after a disastrous events while at the same time increase the trustworthiness of corporations and governments.</p><p><strong>Supplementary information: </strong>The online version contains supplementary material available at 10.1007/s41885-021-00085-4.</p>","PeriodicalId":72868,"journal":{"name":"Economics of disasters and climate change","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2021-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1007/s41885-021-00085-4","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"39292613","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"COVID-19 with Stigma: Theory and Evidence from Mobility Data.","authors":"Yuya Katafuchi, Kenichi Kurita, Shunsuke Managi","doi":"10.1007/s41885-020-00077-w","DOIUrl":"10.1007/s41885-020-00077-w","url":null,"abstract":"<p><p>This study conducts both theoretical and empirical analyses of how non-legally-binding COVID-19 policies affect people's going-out behavior. The theoretical analysis assumes that under a declared state of emergency, the individual going out suffers psychological costs arising from both the risk of infection and the stigma of going out. Our hypothesis states that under a declared state of emergency people refrain from going out because it entails a strong psychological cost. Then, this study estimates a model using regional mobility data and emergency declarations data to analyze self-restraint behavior under a non-legally binding emergency declaration. The results show that, compared with before the declaration of the state of emergency, going-out behavior was suppressed under the state of emergency and after it was lifted even when going out did not result in penalties, which is consistent with the theoretical analysis.</p>","PeriodicalId":72868,"journal":{"name":"Economics of disasters and climate change","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2021-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7502807/pdf/","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"38427714","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Assessing the Optimality of a COVID Lockdown in the United States.","authors":"Anna Scherbina","doi":"10.1007/s41885-021-00083-6","DOIUrl":"10.1007/s41885-021-00083-6","url":null,"abstract":"<p><p>Though COVID vaccines have been available since December 2020, the rate at which they are administered remains slow, and in the meantime the pandemic continues to claim about as many lives every day as the 9/11 tragedy. I estimate that with the promised rate of vaccinations, if no additional non-pharmaceutical interventions are implemented, 203 thousand additional lives will be lost and the future cost of the pandemic will reach $1.3 trillion, or 6% of GDP. Using a cost-benefit analysis, I assess whether it is optimal for the United States to follow the lead of many European countries and introduce a nation-wide lockdown. I find that a lockdown would be indeed optimal and, depending on the assumptions, it should last between two and four weeks and will generate a net benefit of up to $653 billion.</p>","PeriodicalId":72868,"journal":{"name":"Economics of disasters and climate change","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2021-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8105692/pdf/","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"38907273","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Projection of the Effects of the COVID-19 Pandemic on the Welfare of Remittance-Dependent Households in the Philippines.","authors":"Enerelt Murakami, Satoshi Shimizutani, Eiji Yamada","doi":"10.1007/s41885-020-00078-9","DOIUrl":"https://doi.org/10.1007/s41885-020-00078-9","url":null,"abstract":"<p><p>The Coronavirus Disease 2019 (COVID-19) is inevitably affecting remittance-dependent countries through economic downturns in the destination countries, and restrictions on travel and sending remittances to their home country. We explore the potential impacts of the COVID-19 pandemic on the welfare of remittance-dependent households using a dataset collected in the Philippines prior to the outbreak. First, we confirm that remittances are associated with welfare of households, particularly for those whose head is male or lower educated. Then, we use the revision of the 2020 GDP projections before and after the COVID-19 crisis to gauge potential impacts on households caused by the pandemic. We find that remittance inflow will decrease by 14-20% and household spending per capita will decline by 1-2% (food expenditure per capita by 2-3%) in one year as a result of the pandemic.</p>","PeriodicalId":72868,"journal":{"name":"Economics of disasters and climate change","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2021-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1007/s41885-020-00078-9","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"38435985","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Drought and Property Prices: Empirical Evidence from Provinces of Iran","authors":"M. Farzanegan, M. Feizi, Hassan F. Gholipour","doi":"10.1007/s41885-020-00081-0","DOIUrl":"https://doi.org/10.1007/s41885-020-00081-0","url":null,"abstract":"","PeriodicalId":72868,"journal":{"name":"Economics of disasters and climate change","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2020-12-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1007/s41885-020-00081-0","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41346765","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Hurricane Sandy: Damages, Disruptions and Pathways to Recovery","authors":"Sisi Meng, Pallab Mozumder","doi":"10.2139/ssrn.3744300","DOIUrl":"https://doi.org/10.2139/ssrn.3744300","url":null,"abstract":"Critical infrastructure and public utility systems are often severely damaged by natural disasters like hurricanes. Based on a framework of household disaster resilience, this paper focuses on the role of utility disruption on household-level recovery in the context of Hurricane Sandy. Using data collected through a two-stage household survey, it first confirms that the sample selection bias is not present, thus the responses can be estimated sequentially. Second, it quantitatively examines factors contributing to hurricane-induced property damages and household-level recovery. The finding suggests that respondents who suffered from a longer period of utility disruptions (e.g., electricity, water, gas, phone/cell phone, public transportation) are more likely to incur monetary losses and have more difficulty in recovering. Effective preparedness activities (e.g., installing window protections, having an electric generator) can have positive results in reducing adverse shocks. Respondents with past hurricane experiences and higher educational attainments are found to be more resilient compared to others. Finally, the paper discusses the implications of the findings on effective preparation and mitigation strategies for future disasters.","PeriodicalId":72868,"journal":{"name":"Economics of disasters and climate change","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2020-12-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48900845","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The Impact of Climate Change on Rice Production in Nepal","authors":"Veeshan Rayamajhee, Wenmei Guo, A. Bohara","doi":"10.1007/s41885-020-00079-8","DOIUrl":"https://doi.org/10.1007/s41885-020-00079-8","url":null,"abstract":"","PeriodicalId":72868,"journal":{"name":"Economics of disasters and climate change","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2020-10-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1007/s41885-020-00079-8","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"53253783","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Short-, Medium-, and Long-Term Growth Impacts of Catastrophic and Non-catastrophic Natural Disasters","authors":"Hiroki Onuma, K. Shin, Shunsuke Managi","doi":"10.1007/s41885-020-00074-z","DOIUrl":"https://doi.org/10.1007/s41885-020-00074-z","url":null,"abstract":"","PeriodicalId":72868,"journal":{"name":"Economics of disasters and climate change","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2020-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1007/s41885-020-00074-z","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"53254035","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The Impact of Hurricanes on Trade and Welfare: Evidence from US Port-level Exports","authors":"Tobias Sytsma","doi":"10.1007/s41885-020-00067-y","DOIUrl":"https://doi.org/10.1007/s41885-020-00067-y","url":null,"abstract":"","PeriodicalId":72868,"journal":{"name":"Economics of disasters and climate change","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2020-07-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1007/s41885-020-00067-y","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44144808","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The Heterogeneous Impact of Post-Disaster Subsidies on Small and Medium Firms","authors":"Yuzuka Kashiwagi","doi":"10.1007/s41885-020-00065-0","DOIUrl":"https://doi.org/10.1007/s41885-020-00065-0","url":null,"abstract":"","PeriodicalId":72868,"journal":{"name":"Economics of disasters and climate change","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2020-06-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1007/s41885-020-00065-0","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41543272","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}