Evaluation of the Financial Impact of Flood Management on Residential Losses

The purpose of this paper is to examine the impacts that the National Flood Insurance Program (NFIP) has had on the costs of flooding and on their distribution among payers. This study thus probes the NFIP's financial impact, the centerpiece question about program effectiveness. For the analysis, this paper models the institutional and economic framework of flood relief compensation into the HAZUS-flood model, and calculates the NFIP impact on the distribution of payers for flood losses in special flood hazard areas.Risk and Uncertainty,

IDENTIFICATION OF ECONOMIES OF SCOPE IN A STOCHASTIC PRODUCTION ENVIRONMENT

This paper extends the definition of economies of scope to multioutput firms that face an uncertain production environment. Identification of economies of scope in this environment, however, requires separability assumptions on the technology. These identification restrictions are demonstrated in the paper, and for each identification restriction the definition of economies of scope is generalized to the case of uncertain production and risk aversion.Production Risk, Multioutput, Production, Identification, Risk and Uncertainty,

New financing trends in Latin America : an overview of selected issues and policy challenges

This article summarizes a 2007 conference that explored the nature and implications of major transformations in Latin American financial markets, such as the shift from cross-border to domestic financing and the development of domestic bond markets.Finance ; Economic policy ; Latin America