Penalva, José S.Universitat Pompeu Fabra. Departament d'Economia i Empresa2017-07-262017-07-262001-01-01The Journal of Risk Finance, 3(4), 54-72, 2002http://hdl.handle.net/10230/440The 1994 Northridge earthquake sent ripples to insurance conpanies everywhere. This was one in a series of natural disasters such as Hurricane Andrew which together with the problems in Lloyd's of London have insurance companies running for cover. This paper presents a calibration of the U.S. economy in a model with financial markets for insurance derivatives that suggests the U.S. economy can deal with the damage of natural catastrophe far better than one might think.application/pdfengL'accés als continguts d'aquest document queda condicionat a l'acceptació de les condicions d'ús establertes per la següent llicència Creative Commonsinfo:eu-repo/semantics/workingPapercatastrophe bondseartquake insurancecalibrationsurvival analysisFinance and Accountinginfo:eu-repo/semantics/openAccess