Series: IMF Working Papers
Author(s): Stefan Mittnik , Willi Semmler , and Alexander Haider
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 11 July 2019
Keywords: Real sector, Economic growth, Interest costs, Interest rates on loans, Low income countries, climate economics, disaster risk, macro feedbacks, multi-phase macro model, monetary and financial policies
Recent research in financial economics has shown that rare large disasters have the potential to disrupt financial sectors via the destruction of capital stocks and jumps in risk premia. These disruptions often ent...