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Keywords:Natural disasters 

Journal Article
Who needs downtowns, anyway?

Were historic business districts worth saving? City leaders thought so.
Fedgazette , Volume 18 , Issue Sep , Pages 8

Journal Article
Opinion: the broken window fallacy

Econ Focus , Volume 9 , Issue Win , Pages 56

Working Paper
Weathering an Unexpected Financial Shock: The Role of Cash Grants on Household Finance and Business Survival

We estimate the causal effect of cash grants on household finance and business survival following a natural disaster. Disaster-affected individuals in high damage blocks with access to cash grants have 17% less credit card debt following the disaster than those without access to cash grants. Grants do not reduce negative financial outcomes, but do decrease migration. The grants play a role in mitigating the effects of the shock to businesses; resulting in 18% more establishments and 29% more employees post-disaster in disaster-affected neighborhoods where residents receive grants, relative to ...
Working Paper Series , Paper WP-2019-10

Journal Article
Houston after the hurricanes

Houston Business , Issue Oct

Working Paper
Reconstruction Multipliers

Following the 2009 L'Aquila earthquake, financing of reconstruction by the Italian central government resulted in a sharp and unanticipated discontinuity in grants across municipalities that were ex-ante very similar. Using the emergency financing law as an instrument, we identify the causal effect of municipal government spending on local activity, controlling for the negative supply shock from the earthquake. In our estimates, this "reconstruction multiplier" is around unity, and we show that the grants provided public insurance. Economic activity contracted in municipalities that did not ...
Finance and Economics Discussion Series , Paper 2014-79

Journal Article
Economic history : the Sea Island hurricane of 1893

Econ Focus , Volume 10 , Issue Win , Pages 45-47

Journal Article
Back to nature: restoring wetlands may help to control floods, but their other values complicate the picture

Fedgazette , Volume 13 , Issue Nov , Pages 12-13

Journal Article
Natural disasters and bankruptcy: a perspective

The implications of research on bankruptcy filings after hurricanes.
Communities and Banking , Issue Fall , Pages 3-6

Working Paper
Natural Disasters, Climate Change, and Sovereign Risk

I investigate how natural disasters can exacerbate fiscal vulnerabilities and trigger sovereign defaults. I extend a standard sovereign default model to include disaster risk and calibrate it to a sample of seven Caribbean countries that are frequently hit by hurricanes. I find that disaster risk reduces government's ability to issue debt and that climate change further restricts government's access to financial markets. Next, I show that "disaster clauses", that provide debt-servicing relief, allow governments to borrow more and preserve government's access to financial markets, amid rising ...
International Finance Discussion Papers , Paper 1291r1

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