Affiliation:
1. Department of Finance, University of Illinois at Urbana-Champaign, 4029 BIF, 515 E. Gregory Drive, Champaign, IL 61820 (email: )
Abstract
Little is known about the fiscal costs of natural disasters, especially regarding social safety nets that do not specifically target extreme weather events. This paper shows that US hurricanes lead to substantial increases in non-disaster government transfers, such as unemployment insurance and public medical payments, in affected counties in the decade after a hurricane. The present value of this increase significantly exceeds that of direct disaster aid. This implies, among other things, that the fiscal costs of natural disasters have been significantly underestimated and that victims in developed countries are better insured against them than previously thought. (JEL H51, H53, H84, J65, Q54)
Publisher
American Economic Association
Subject
General Economics, Econometrics and Finance
Cited by
110 articles.
订阅此论文施引文献
订阅此论文施引文献,注册后可以免费订阅5篇论文的施引文献,订阅后可以查看论文全部施引文献