02172cas a2200265 a 4500 AALejournalIMF019430 230101c9999 xx r poo 0 0eng d 5.00 USD 9781498320849 1018-5941 BD-DhAAL BD-DhAAL Mittnik, Stefan. Climate Disaster Risks : Empirics and a Multi-Phase Dynamic Model / Stefan Mittnik, Willi Semmler, Alexander Haider. Washington, D.C. : International Monetary Fund, 2019. 1 online resource (47 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students Recent research in financial economics has shown that rare large disasters have the potential to disrupt financial sectors via the destruction of capital stocks and jumps in risk premia. These disruptions often entail negative feedback e?ects on the macroecon-omy. Research on disaster risks has also actively been pursued in the macroeconomic models of climate change. Our paper uses insights from the former work to study disaster risks in the macroeconomics of climate change and to spell out policy needs. Empirically the link between carbon dioxide emission and the frequency of climate re-lated disaster is investigated using cross-sectional and panel data. The modeling part then uses a multi-phase dynamic macro model to explore this causal nexus and the e?ects of rare large disasters resulting in capital losses and rising risk premia. Our proposed multi-phase dynamic model, incorporating climate-related disaster shocks and their aftermath as one phase, is suitable for studying mitigation and adaptation policies. Mode of access: Internet Haider, Alexander. Semmler, Willi. IMF Working Papers; Working Paper ; No. 2019/145 Full text available on IMF http://elibrary.imf.org/view/journals/001/2019/145/001.2019.issue-145-en.xml IMF e-Library