全球智库信息集成服务系统(G2TT): Economic growth under catastrophes.

G2TT

来源类型	Book Section
DOI	10.1007/978-94-007-2226-2_7
	Economic growth under catastrophes.
	Ermoliev Y; Ermolieva T; Amendola, A; Ermolieva, T; Linnerooth-Bayer, J; Mechler, R
发表日期	2013
出处	Integrated Catastrophe Risk Modeling: Supporting Policy Processes. Eds. Amendola, A , Ermolieva, T , Linnerooth-Bayer, J & Mechler, R , Dordrecht: Springer. DOI: 10.1007/978-94-007-2226-2_7 .
出版年	2013
语种	英语
摘要	The chapter analyzes effects of catastrophes on economic growth and stagnation. The economy is a complex system constantly facing shocks and changes with possible catastrophic impacts. A shock is understood as an event removing from the economy a part of the capital. We show that even in the case of well-behaving economies defined by the Harrod-Domar model, persistent in time shocks implicitly modify the economy and may lead to various traps and thresholds triggering stagnation and shrinking. The stabilization of the growth must then rely on ex-ante risk reduction and risk transfer options, such as hazard mitigation and the purchase of catastrophic insurance, as well as ex-post borrowing. The coexistence of ex-ante (risk averse) and ex-post (risk prone) options in the proposed model generates a strong risk aversion even in the case of linear utility functions. In contrast to the traditional expected utility theory, it assesses and explains trade-offs and benefits of ex-ante and ex-post management options.
主题	Advanced Systems Analysis (ASA) ; Ecosystems Services and Management (ESM)
关键词	Catastrophe risks Economic growth under shock Growth stabilization Ex-ante and ex-post measures Risk aversion Two-stage stochastic optimization
URL	http://pure.iiasa.ac.at/id/eprint/10600/
来源智库	International Institute for Applied Systems Analysis (Austria)
引用统计
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/134292
推荐引用方式 GB/T 7714	Ermoliev Y,Ermolieva T,Amendola, A,et al. Economic growth under catastrophes.. 2013.