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How Big Are the Benefits of Economic Diversification? Evidence from Earthquakes »
Article
Source: How Big Are the Benefits of Economic Diversification? Evidence from Earthquakes
Volume/Issue: 2005/48
Series: IMF Working Papers
Author(s): Rodney Ramcharan
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 March 2005
ISBN: 9781451860672
Keywords: Risk, diversification, earthquakes, earthquake, disasters, epidemiology of disasters, Macroeconomics: Consumption, Saving, Production, Employment
Economic activity is risky. Returns across economic sectors can be highly variable, potentially causing costly adjustments to consumption. However, when returns are imperfectly correlated across sectors and insuran...