Exploring the Impact of Natural Disasters on the Return Volatility of the Stock Market and Insurance Industry in the US
This study utilizes data from 2000 to 2024 together with an EGARCH approach to model the volatility of two indices, the S&P 500 and the S&P 500 Property and Casualty Insurance Sub Industry Index. Which in this paper acts as proxies for the stock market and the property and casualty insurance industry in the US respectively. Data from The Emergency Events Database is used to incorporate dis