Centro de Documentacion de Fundación MAPFRE - Natural disasters and fiscal shelters

MAP20260010748

Natural disasters and fiscal shelters / Álvaro Fernández Gallardo and
Evi Pappa. — Madrid : Banco de España, 2026

(Documentos de trabajo ; nº 2912 ; March 2026)

Abstract -- Introduction -- Data and summary statistics -- Empirical methodology -- Results -- Heterogeneity in fiscal assistance -- Fiscal preparedness and recovery -- Hazard mitigation programs -- Conclusions -- References. — Sumario: This working paper analyses the economic impact of natural disasters in the United States and evaluates the effectiveness of federal fiscal assistance. Using high-frequency economic data and quasi-random variation in FEMA aid approval, the authors compare recovery paths across similar disasters. The results show that timely and generous fiscal support significantly accelerates economic recovery, while denial of aid leads to deeper and more persistent downturns. The study also highlights the role of fiscal preparedness and hazard mitigation in enhancing resilience to climate-related risks

1. Catástrofes naturales . 2. Riesgos meteorológicos . 3. Recuperación económica . 4. Política fiscal . 5. Mitigación de riesgos . 6. Economía regional . 7. Gestión de riesgos . I. Pappa, Evi . II. Banco de España . III. Título.