NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Rare Disasters, Asset Prices, and Welfare Costs

Robert J. Barro

NBER Working Paper No. 13690
Issued in December 2007

---- Acknowledgements -----

This research is supported by the National Science Foundation. I appreciate comments from Fernando Alvarez, Marios Angeletos, John Campbell, Raj Chetty, John Cochrane, Xavier Gabaix, Francois Gourio, Lars Hansen, David Laibson, Jong-Wha Lee, Greg Mankiw, Ian Martin, Casey Mulligan, and Ivan Werning. The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research.

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