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WBG, GFDRR   |  
The Indirect Cost of Natural Disasters and an Economic Definition of Macroeconomic Resilience (2015)

The paper proposes a rule of thumb to estimate macroeconomic resilience, based on the interest rate (a higher interest rate decreases resilience and increases welfare losses), the reconstruction duration (a longer reconstruction duration increases welfare losses), and a “ripple-effect” factor that increases or decreases immediate losses (negative if enough idle resources are available to cope; positive if cross-sector and supply-chain issues impair the production of non-affected capital).

Category:  Macroeconomics of Climate Change, Climate Change Fiscal Risk Assessments and Management