The welfare impact of a disaster does not depend only on the physical characteristics of the event or its direct impacts in terms of lost lives and assets. Depending on the ability of the economy to cope, recover, and reconstruct, the reconstruction will be more or less difficult, and the welfare effects smaller or larger. This ability, which can be referred to as the macroeconomic resilience of the economy to natural disasters, is an important parameter...
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2015/07/02
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Documento de trabalho sobre pesquisa de políticas
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WPS7357
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1
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1
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2015/07/02
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Disclosed
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The indirect cost of natural disasters and an economic definition of macroeconomic resilience
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finance and markets
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