Related papers: Disaster Resilience and Asset Prices
Assessing and managing the impact of large-scale epidemics considering only the individual risk and severity of the disease is exceedingly difficult and could be extremely expensive. Economic consequences, infrastructure and service…
Major events like natural catastrophes or the COVID-19 crisis have impact both on the financial market and on claim arrival intensities and claim sizes of insurers. Thus, when optimal investment and reinsurance strategies have to be…
The emergence of coronavirus disease 2019 (COVID-19) in the United States has forced federal and local governments to implement containment measures. Moreover, the severity of the situation has sparked engagement by both the research and…
Pandemic response is a complex affair. Most governments employ a set of quasi-standard measures to fight COVID-19 including wearing masks, social distancing, virus testing and contact tracing. We argue that some non-trivial factors behind…
Different countries -- and sometimes different regions within the same countries -- have adopted different strategies in trying to contain the ongoing COVID-19 epidemic; these mix in variable parts social confinement, early detection and…
COVID-19 has impacted the economy of almost every country in the world. Of particular interest are the responses of the economic indicators of developing nations (such as BRICS) to the COVID-19 shock. As an extension to our earlier work on…
Observations indicate that the distributions of stock returns in financial markets usually do not conform to normal distributions, but rather exhibit characteristics of high peaks, fat tails and biases. In this work, we assume that the…
Economic models with input-output networks assume that firm or sector (unit) growth is driven by a weighted sum of trade partners' growth and an independently-drawn idiosyncratic shock. I show that the idiosyncratic risk assumption in a…
This study examines the dynamic asset market linkages under the COVID-19 global pandemic based on market efficiency, in the sense of Fama (1970). Particularly, we estimate the joint degree of market efficiency by applying Ito et al.'s…
The potential tradeoff between health outcomes and economic impact has been a major challenge in the policy making process during the COVID-19 pandemic. Epidemic-economic models designed to address this issue are either too aggregate to…
This paper aims at shedding light upon how transforming or detrending a series can substantially impact predictions of mixed causal-noncausal (MAR) models, namely dynamic processes that depend not only on their lags but also on their leads.…
A model of reactive social distancing in epidemics is proposed, in which the infection rate changes with the number infected. The final-size equation for the total number that the epidemic will infect can be derived analytically, as can the…
Social distancing has been the only effective way to contain the spread of an infectious disease prior to the availability of the pharmaceutical treatment. It can lower the infection rate of the disease at the economic cost. A pandemic…
In the context of natural disasters, human responses inevitably intertwine with natural factors. The COVID-19 pandemic, as a significant stress factor, has brought to light profound variations among different countries in terms of their…
Purpose: In this study we propose to identify significant economic, political, and social factors that helped contribute to the incidence and mortality of SARS-CoV-2 around the world during the first seven months of the COVID-19 pandemic.…
We propose a novel approach to assess the public's coping behavior during the COVID-19 outbreak by examining the emotions. Specifically, we explore (1) changes in the public's emotions with the COVID-19 crisis progression and (2) the…
The paper focuses on econometrically justified robust analysis of the effects of the COVID-19 pandemic on financial markets in different countries across the World. It provides the results of robust estimation and inference on predictive…
Social dilemmas where the good of a group is at odds with individual interests are usually considered as static -- the dilemma does not change over time. In the COVID-19 pandemic, social dilemmas occurred in the mitigation of epidemic…
The COVID-19 pandemic has proved to be one of the most disruptive public health emergencies in recent memory. Among non-pharmaceutical interventions, social distancing and lockdown measures are some of the most common tools employed by…
Reliable short term forecasting can provide potentially lifesaving insights into logistical planning, and in particular, into the optimal allocation of resources such as hospital staff and equipment. By reinterpreting COVID-19 daily cases…