@techreport{fdi:010077634, title = {{T}he economics of volcanoes}, author = {{C}houmert-{N}kolo, {J}. and {L}amour, {A}na{\¨ie}s and {P}h{\'e}linas, {P}ascale}, editor = {}, language = {{ENG}}, abstract = {{V}olcanic hazards pose a potential threat to 8% of the world's population, yet the economic literature on their short- and long-term consequences on household behavior and economic development is still in its infancy. {I}n this article, we present the state of the literature and highlight knowledge gaps and methodological challenges inherent to the economic analysis of volcanic hazards and disasters. {W}e first present the physical aspects of volcanic activity and describe available physical data. {W}e then examine the concepts related to cost assessment of volcanic disasters. {F}inally, we discuss key micro and macroeconomic research questions economists should investigate and identify relevant methodological and data challenges. {B}y highlighting research gaps in the "economics of volcanoes", we provide future avenues of research that will address policy-relevant debates in the context of greater focus on risk mitigation, adaptation, and resilience policies aimed at mitigating natural hazards and disasters.}, keywords = {{GESTION} {DE} {L}'{ENVIRONNEMENT} ; {VOLCAN} ; {CATASTROPHE} {NATURELLE} ; {MACROECONOMIE} ; {MICROECONOMIE} ; {ADAPTATION} ; {METHODOLOGIE} ; {ECONOMIE} {DE} {L}'{ENVIRONNEMENT} ; {POLITIQUE} {DE} {L}'{ENVIRONNEMENT} ; {GESTION} {DU} {RISQUE} ; {RESILIENCE} ; {MONDE}}, address = {}, series = {{E}tudes et {D}ocuments - {CERDI}}, pages = {36 multigr.}, year = {2020}, ISSN = {2114-7957}, URL = {https://www.documentation.ird.fr/hor/fdi:010077634}, }