@misc{9246458,
  abstract     = {{This thesis estimates the dynamic macroeconomic effects of climatic disasters on GDP per capita and human capital, using local projections on a panel of 173 countries from 1970 to 2022. The analysis focuses on droughts, floods, and storms, three unambiguously climate-driven disaster types. The main finding is a divergence between output and human capital responses. GDP per capita rises cumulatively after climatic shocks in both income groups, consistent with reconstruction-driven demand effects, while human capital declines in lower-income countries in the years immediately following shocks. Foreign aid is associated with a weaker GDP per capita response but a smaller human capital decline in lower-income countries, suggesting aid prioritises humanitarian objectives over productive investment. Evidence on domestic credit and remittances is mixed. The results underscore that short-run GDP recovery can mask slower-moving human capital losses, and that adaptation policies must distinguish reconstruction spending from genuine welfare gains.}},
  author       = {{Szalapska, Aleksandra}},
  language     = {{eng}},
  note         = {{Student Paper}},
  title        = {{Understanding the Macroeconomic Effects of Climatic Disasters: Implications for Economic Development and Resilience}},
  year         = {{2026}},
}