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Economic Currents

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Publication: Do Natural Disasters Make Sustainable Growth Impossible?

Posted January 7, 2020 | Categories: Blog

"Do Natural Disasters Make Sustainable Growth Impossible?" has been published in the Economics of Disasters and Climate Change. This paper considers the prospects for sustainable growth using expected utility models of optimal investment under threat from natural disasters. Natural disasters reduce capital stocks and disrupt the optimal consumption and felicity paths. Prudent disaster preparedness includes precautionary investment in productive capital, programs of adaptation to disaster risk, and avoiding distortionary policies undermining the prospects of optimality and sustainability.


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