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Book
Macroeconomic Modeling of Managing Hurricane Damage in the Caribbean : The Case of Jamaica
Authors: --- ---
Year: 2021 Publisher: Washington, D.C. : The World Bank,

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Abstract

This paper describes a modeling methodology that embeds climate damages from natural disasters and risk management strategies into a macroeconomic model for Jamaica. The modeled damages take the form of capital destruction, and the risk management strategies considered are (i) adaptation investment in hurricane resilient infrastructure, (ii) commercial disaster insurance for the government, (iii) the formation of a contingency fund, and (iv) lower debt via higher future primary balances to create fiscal space for disaster recovery. Different risk management strategies are compared to a baseline of no risk management. The model behavior is estimated empirically on country-specific data. Hurricane damage and the model results are analyzed in deterministic and probabilistic settings, using the historical distribution of damages for Jamaica.


Book
Deluge
Author:
ISBN: 1611684048 9781611684049 1611683181 9781611683189 9781611683189 Year: 2013 Publisher: Lebanon

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