• Title/Summary/Keyword: rainfall (precipitation) insurance

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Analyzing rainfall patterns and pricing rainfall insurance using copula (코퓰라를 이용한 강수의 패턴 분석과 강수 보험의 가격 결정)

  • Choi, Changhui;Lee, Hangsuck;Ju, Hyo Chan
    • Journal of the Korean Data and Information Science Society
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    • v.24 no.3
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    • pp.603-623
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    • 2013
  • This paper proposes analyzing monthly rainfall patterns using copula and pricing related rainfall insurance using it. We analyze 30-year monthly precipitation data for 9 Korean cities between June and September using copula showing so that it can effectively generate realistic monthly rainfall patterns. In addition, we show that our copula rainfall models can be used in pricing various kinds of rainfall insurances effectively.

Can Agricultural Aid and Remittances Alleviate Macroeconomic Volatility in Response to Climate Change Shocks? (아프리카 국가들의 경제성장률 변동성에 기후변화, 송금 및 농업 원조가 미치는 영향 분석)

  • You, Soobin;Kim, Taeyoon
    • Environmental and Resource Economics Review
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    • v.25 no.4
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    • pp.471-494
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    • 2016
  • This study investigates the effect of remittance and agricultural aid inflows on GDP growth rate volatility in response to climate change shocks in twenty-eight African countries by using system generalized method of moments from 1996 to 2013 with three years grouped data. The climate change shocks are indicated by four variables; natural disasters, rainfall variability, fluctuation in temperature and the weighted anomaly standardized precipitation (WASP) index. Consequently, natural disasters and temperature variability have a significant effect on GDP volatility, while rainfall variability and WASP index have no adverse consequence on stabilization of the economy. On the other hand, in general, remittances and agricultural aid are helpful to stabilize the economy and especially remittances inflows can play a crucial role as insurance when natural disasters occur.