Related papers: A Natural Disasters Index
We study the effect of random perturbations in the Human and Nature Dynamics (HANDY) model. HANDY models the interactions between human population, depletion, and consumption of natural resources. HANDY explains how endogenous human--nature…
Wildfires pose a serious threat to the environment of the world. The global wildfire season length has increased by 19% and severe wildfires have besieged nations around the world. Every year, forests are burned by wildfires, causing vast…
We propose that catastrophic events are "outliers" with statistically different properties than the rest of the population and result from mechanisms involving amplifying critical cascades. Applications and the potential for prediction are…
Water events are the most frequent and costliest climate disasters around the world. In the U.S., an estimated 127 million people who live in coastal areas are at risk of substantial home damage from hurricanes or flooding. In flood…
We develop a comprehensive framework to measure the impact of the climate transition on investment portfolios. Our analysis is enriched by including geographical, sectoral, company and ISIN-level data to assess transition risk. We find that…
Development of sustainable insurance for cyber risks, with associated benefits, inter alia requires reduction of ambiguity of the risk. Considering cyber risk, and data breaches in particular, as a man-made catastrophe clarifies the…
El Nino is an extreme weather event featuring unusual warming of surface waters in the eastern equatorial Pacific Ocean. This phenomenon is characterized by heavy rains and floods that negatively affect the economic activities of the…
This paper estimates local tornado risk from records of past events using statistical models. First, a spatial model is fit to the tornado counts aggregated in counties with terms that control for changes in observational practices over…
It is shown that the physical damage resulting from severe weather phenomenon such as hurricanes and tornadoes encapsulated in various scales such as Saffir-Simpson, TORRO and the Enhanced Fujita Scale, and measured by the Power Dissipation…
Extreme temperature outages can lead to not just economic losses but also various non-energy impacts (NEI) due to significant degradation of indoor operating conditions caused by service disruptions. However, existing resilience assessment…
We consider insurance derivatives depending on an external physical risk process, for example a temperature in a low dimensional climate model. We assume that this process is correlated with a tradable financial asset. We derive optimal…
We estimate the short-run effects of weather-related disasters on local economic activity and cross-border spillovers that operate through economic linkages between U.S. states. To this end, we use emergency declarations triggered by…
An estimate of the net direction of climate interactions in different geographical regions is made by constructing a directed climate network from a regular latitude-longitude grid of nodes, using a directionality index (DI) based on…
In recent years, extreme weather events have surged, highlighting the urgent need for action on the climate emergency. The year 2023 saw record-breaking global temperatures, unprecedented heatwaves in Europe, devastating floods in Asia, and…
Wildland-Urban Interface (WUI) fires represent a compound disaster resulting from the interactions between natural ecosystems and human settlements, characterized by significantly dynamic evolving risks. However, most current risk…
Climate change-associated disasters have become a significant concern, principally when affecting urban areas. Assessing these regions' resilience to strengthen their disaster management is crucial, especially in the areas vulnerable to…
In recent years, the monitoring and study of natural hazards have gained significant attention, particularly due to climate change, which exacerbates incidents like floods, droughts, storm surges, and landslides. Together with the constant…
El Nino is probably the most influential climate phenomenon on interannual time scales. It affects the global climate system and is associated with natural disasters and serious consequences in many aspects of human life. However, the…
Flood-related risks to people and property are expected to increase in the future due to environmental and demographic changes. It is important to quantify and effectively communicate flood hazards and exposure to inform the design and…
Drought is a complex natural hazard that affects ecological and human systems, often resulting in substantial environmental and economic losses. Recent increases in drought severity, frequency, and duration underscore the need for effective…