| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w26068 |
| 来源ID | Working Paper 26068 |
| Welfare Costs of Catastrophes: Lost Consumption and Lost Lives | |
| Ian W.R. Martin; Robert S. Pindyck | |
| 发表日期 | 2019-07-15 |
| 出版年 | 2019 |
| 语种 | 英语 |
| 摘要 | Most of the literature on the economics of catastrophes assumes that such events cause a reduction in the stream of consumption, as opposed to widespread fatalities. Here we show how to incorporate death in a model of catastrophe avoidance, and how a catastrophic loss of life can be expressed as a welfare-equivalent drop in wealth or consumption. We examine how potential fatalities affect the policy interdependence of catastrophic events and "willingness to pay" (WTP) to avoid them. Using estimates of the "value of a statistical life" (VSL), we find the WTP to avoid major pandemics, and show it is large (10% or more of annual consumption) and partly driven by the risk of macroeconomic contractions. Likewise, the risk of pandemics significantly increases the WTP to reduce consumption risk. Our work links the VSL and consumption disaster literatures. |
| 主题 | Microeconomics ; Economics of Information ; Public Economics ; National Fiscal Issues ; Environmental and Resource Economics ; Environment |
| URL | https://www.nber.org/papers/w26068 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 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/583742 |
| 推荐引用方式 GB/T 7714 | Ian W.R. Martin,Robert S. Pindyck. Welfare Costs of Catastrophes: Lost Consumption and Lost Lives. 2019. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w26068.pdf（317KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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