Search Results
Journal Article
Targeted charitable giving : Good intentions, unintended consequences
Related links: https://www.richmondfed.org/-/media/richmondfedorg/publications/research/econ_focus/2011/q2/feature1_weblinks.cfm
Journal Article
Who needs downtowns, anyway?
Were historic business districts worth saving? City leaders thought so.
Journal Article
Noteworthy: hurricane season, venture capital, exports
Ike deals severe blow to Texas economy. Texas investment funding slips in 2nd quarter. Latin America, China lead Texas surge in overseas sales.
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 ...
Journal Article
Mother nature on strike
Journal Article
Noteworthy: Hurricane Ike: six months later, still assessing the damage
On Sept. 13, Hurricane Ike made landfall at Galveston. Six months later, many Texas Gulf Coast communities continue to struggle with debris and damage. Rebuilding is under way, but full recovery is likely to take years.
Journal Article
Economic history : the Sea Island hurricane of 1893
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 ...
Newsletter
Natural disasters: from destruction to recovery
Natural disasters often cause extensive loss and damage, yet post-disaster reconstruction may create opportunities that bring long-term economic benefits. Read the October 2011 Newsletter "Natural Disasters: From Destruction to Recovery" for details.