The Fiscal Implications of Hurricane Strikes in the Caribbean
We explore the fiscal impacts of hurricane strikes. To this end we derive a damage index from a physical wind field model, and assemble a panel data set of Caribbean countries over 36 years. Our results, based on panel var and impulse response frameworks, show that a typical strike significantly increases government expenditure in the year of the strike, with a smaller lagged effect in the subsequent year. Overall, the increase in expenditure has a negative impact on the budget balance in the year of the hurricane.
Year of publication: |
2014-01-06
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Authors: | Ouattara, Bazoumana ; Strobl, Eric |
Institutions: | Institut de Préparation à l'Administration et à la Gestion (IPAG) |
Saved in:
freely available
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