Natural disasters and fiscal shelters

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<rdf:Description>
<dc:creator>Fernández Gallardo, Álvaro</dc:creator>
<dc:creator>Pappa, Evi</dc:creator>
<dc:creator>Banco de España</dc:creator>
<dc:date>2026</dc:date>
<dc:description xml:lang="es">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</dc:description>
<dc:identifier>https://documentacion.fundacionmapfre.org/documentacion/publico/es/bib/190337.do</dc:identifier>
<dc:language>eng</dc:language>
<dc:publisher>Banco de España</dc:publisher>
<dc:rights xml:lang="es">InC - http://rightsstatements.org/vocab/InC/1.0/</dc:rights>
<dc:subject xml:lang="es">Catástrofes naturales</dc:subject>
<dc:subject xml:lang="es">Riesgos meteorológicos</dc:subject>
<dc:subject xml:lang="es">Recuperación económica</dc:subject>
<dc:subject xml:lang="es">Política fiscal</dc:subject>
<dc:subject xml:lang="es">Mitigación de riesgos</dc:subject>
<dc:subject xml:lang="es">Economía regional</dc:subject>
<dc:subject xml:lang="es">Gestión de riesgos</dc:subject>
<dc:type xml:lang="es">Libros</dc:type>
<dc:title xml:lang="es"> Natural disasters and fiscal shelters</dc:title>
<dc:description xml:lang="es">Abstract -- Introduction -- Data and summary statistics -- Empirical methodology -- Results -- Heterogeneity in fiscal assistance -- Fiscal preparedness and recovery -- Hazard mitigation programs -- Conclusions -- References</dc:description>
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