Destruction caused by hurricane-like cyclones that have a strong (long-term) economic impact on a country and, in the course of this, can also profoundly complicate central bank policy, especially due to the high demand for urgent loans for reconstruction. – For example, hurricane “Katrina” caused about $744 billion in damage in the Americas in late August 2005. – See oil price, hell-and-flood contract, catastrophe bonds, models, monetary policy, model uncertainty, Oil Bulletin, oil price shocks, shock, external, shocks, structural, terror shock, uncertainty, weather derivative, worst case scenario.
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