Catastrophe risk management in financial markets encompasses the strategies and instruments designed to mitigate the economic impact of extreme events such as earthquakes, floods, hurricanes and armed ...

Graduate school of Economics, Osaka University, Osaka, Japan. Cities are currently in a constant expansion. The modernization and the use of technology in urban and rural areas require more and more ...

ABSTRACT: In this paper, we introduce tail dependene measures for collateral losses from catastrophic events. To calculate these measures, we use bivariate compound process where a Cox process with ...