spending decentralization shock (reaching over 20 percent after 4 years). Nevertheless, in cases of natural disasters, spending … public sector efficiency after a spending decentralization shock is smaller than in their absence. Moreover, extreme natural …

spending decentralization shock (reaching over 20 percent after 4 years). Nevertheless, in cases of natural disasters, spending … public sector efficiency after a spending decentralization shock is smaller than in their absence. Moreover, extreme natural …

We study the role of international financial integration in buffering natural disaster shocks, using a large sample of … and economic conditions. We document that integration improves shock absorption: output, consumption, and investment are … significantly higher after a shock in states of high integration than in states of low integration. However, the benefits of …