| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w28050 |
| 来源ID | Working Paper 28050 |
| Local Public Finance Dynamics and Hurricane Shocks | |
| Rhiannon Jerch; Matthew E. Kahn; Gary C. Lin | |
| 发表日期 | 2020-11-09 |
| 出版年 | 2020 |
| 语种 | 英语 |
| 摘要 | Since 1980, over 2,000 local governments in US Atlantic and Gulf states have been hit by a hurricane. Such natural disasters can exert severe budgetary pressure on local governments’ ability to provide critical infrastructure, goods, and services. We study local government revenue, expenditure, and borrowing dynamics in the aftermath of hurricanes. These shocks reduce tax revenues and expenditures, and increase the cost of debt in the decade following exposure. Major hurricanes have much larger effects than minor hurricanes. Our results reveal how hurricanes create collateral fiscal damage for local governments by increasing the cost of debt at critical moments after a hurricane strike. Municipalities with a racial minority composition 1 standard deviation above the sample mean suffer expenditure losses more than 2 times larger and debt default risk 8 times larger than municipalities with average racial composition in the decade following a hurricane strike. These results suggest that climate change can exacerbate environmental justice challenges. |
| 主题 | Subnational Fiscal Issues |
| URL | https://www.nber.org/papers/w28050 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/585723 |
| 推荐引用方式 GB/T 7714 | Rhiannon Jerch,Matthew E. Kahn,Gary C. Lin. Local Public Finance Dynamics and Hurricane Shocks. 2020. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w28050.pdf（3677KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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