Natural disasters could constitute a major shock to public finances and debt sustainability because of their impact on output and the need for reconstruction and relief expenses. This paper uses a panel vector autoregressive model to systematically estimate the impact of geological, climatic, and other types of natural disasters on government expenditures and revenues using annual data for high and middle-income countries over 1975-2008. The authors...
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2011/02/01
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Documento de trabalho sobre pesquisa de políticas
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WPS5564
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1
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1
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2011/02/01
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Disclosed
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How do governments respond after catastrophes ? natural-disaster shocks and the fiscal stance
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increase in government expenditure
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