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The paper uses a methodological approach based on pooling the experiences of various countries over time. It consists of vector autoregressions in the presence of endogenous variables and exogenous shocks (VARX), applied to a panel of cross\u2010country and time series data. The analysis finds heterogeneous effects on a variety of dimensions. First, the effects of natural disasters are stronger on developing than on advanced countries. Second, not all natural disasters are alike in terms of the growth response they induce, and some can even have positive effects on economic growth. Third, severe disasters often carry much worse effects than moderate effects do. Fourth, the timing of the growth response varies with both the type of natural disaster and the sector of economic activity. Copyright \u00a9 2011 John Wiley &amp; Sons, Ltd.<\/jats:p>","DOI":"10.1002\/jae.1273","type":"journal-article","created":{"date-parts":[[2011,10,28]],"date-time":"2011-10-28T06:31:26Z","timestamp":1319783486000},"page":"412-434","source":"Crossref","is-referenced-by-count":247,"title":["THE GROWTH AFTERMATH OF NATURAL DISASTERS"],"prefix":"10.1002","volume":"28","author":[{"given":"Thomas","family":"Fomby","sequence":"first","affiliation":[{"name":"Southern Methodist University  Dallas TX USA"}],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Yuki","family":"Ikeda","sequence":"additional","affiliation":[{"name":"Georgetown University  Washington DC USA"}],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Norman V.","family":"Loayza","sequence":"additional","affiliation":[{"name":"World Bank  Washington DC USA"}],"role":[{"vocabulary":"crossref","role":"author"}]}],"member":"311","published-online":{"date-parts":[[2011,10,28]]},"reference":[{"key":"e_1_2_7_2_1","doi-asserted-by":"crossref","unstructured":"BeckerT MauroP.2006.Output drops and the shocks that matter. 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