The fiscal cost of hurricanes disaster aid versus social insurance by Taryana Deryugina
By: Deryugina, Tatyana
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Material type: 
ArticlePublisher: 2017Subject(s): CATASTROFES NATURALES | GASTO PUBLICO | POLITICA DE GASTO PUBLICO | POLITICA FISCAL | SEGUROS | AYUDA ESTATAL | ESTADOS UNIDOS
In:
American Economic Journal. Economic Policy v.9, n. 3, August 2017, p. 168-198Summary: 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 asunemployment insurance and public medical payments, in affected counties in the decade after a hurricane. The present value ofthis 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.
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Disponible también en línea a través de la Biblioteca del Instituto de Estudios Fiscales. Resumen. Bibliografía.
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 asunemployment insurance and public medical payments, in affected counties in the decade after a hurricane. The present value ofthis 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.
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