Local Public Finance Dynamics and Hurricane Shocks

Jerch, Rhiannon; Kahn, Matthew E.; Lin, Gary C.

doi:10.3386/w28050

Cited by 27 publications

(21 citation statements)

References 69 publications

(95 reference statements)

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“…Rhiannon Jerch presented her study conducted in 2021 (Jerch et al, 2021), showing how climate shocks affect local government finances (i.e., local budgets and public goods provision) by comparing municipal finances (revenues, expenditures, and debts) in years of high and low exposures to hurricanes. The study reveals that public finance is important for two main reasons: (a) local governments are the major providers of public goods and services (e.g., accounted for 35 percent of per capita public expenditure in 2017); and (b) the distributional consequences of who bears the costs has environmental justice implications (Banzhaf, et al, 2019).…”

Section: Theme 3: Public Finance and Equity In Resiliencementioning

confidence: 99%

New Perspectives on Climate Equity and Environmental Justice

Smith

Wodajo²

2022

Bulletin of the American Meteorological Society

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and Atmospheric Administration (NOAA) organized a four-part seminar series to explore the science-based concepts of climate equity and environmental justice and examined how NOAA and the federal government may better serve vulnerable and underrepresented communities. PRSSO invited nine leading scholars and researchers from academia and across the federal government to discuss their work in this field.

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Section: Theme 3: Public Finance and Equity In Resiliencementioning

confidence: 99%

New Perspectives on Climate Equity and Environmental Justice

Smith

Wodajo²

2022

Bulletin of the American Meteorological Society

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“…The impact of natural disasters can complicate SNGs' ability to address climate adaptation needs. For example, Jerch, Kahn, and Lin (2020) report that since 1980, over 2,000 local governments in U.S. Atlantic and Gulf states have been hit by a hurricane, and that in the case of major hurricanes, local revenue losses of up to 7 percent persist at least 10 years after the hurricane event, leading to cuts in important public goods and services and a significant increase in the risk of default on municipal debt. Localities rated as riskier by ratings agencies face higher borrowing costs and therefore lower ability to invest in climate change adaptation.…”

Section: Energy Emissions Transport 14%mentioning

confidence: 99%

Adapting Fiscal Decentralization Design to Combat Climate Change

Martínez-Vázquez¹

2021

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List of Figures List of Tables List of AbbreviationsAcknowledgements Contents BNPB National Disaster Management Authority (Badan Nasional Penanggulangan Bencana) C2ES Center for Climate and Energy Solutions CAR Regional Autonomous Corporation (Corporación Autónoma Regional) CBI Climate Board Initiative CCD Climate Change Directorate CCP Cities for Climate Protection CCS Carbon Capture and Sequestration/Carbon Capture and Storage CDR Regional Development Councils (Consejos de Desarrollo Regional) CDS Corporations for Sustainable Development CESA Clean Energy States Alliance CIDPs County Integrated Development Plans CO2 Carbon Dioxide COP15 15th Conference of the Parties to the United Nations Framework Convention on Climate Change in Copenhagen COVID / COVID-19 Coronavirus disease 2019 (and the associated pandemic) EBRD European Bank for Reconstruction and Development EGCA European Green Capital Award EFTs Ecological Fiscal Transfers EIs Economic Instruments EIAs Environmental Impact Assessments 01 146. SNGs also manage land-use zoning, which has consequences on climate change; for example, urban sprawl has contributed to emissions by increasing daily commute distances and reducing green spaces. 7. Note that there is no complete agreement that these conventional policies to combat climate change will be ultimately effective. An important skeptic, Sinn (2012) suggests that by regulating and reducing the demand for fossil fuels, suppliers of carbon resources will respond by trying to preempt the impact of future regulation via the acceleration of the production of fossil energy. This is what Sinn calls the "Green Paradox": pushing for the future reduction of carbon consumption leads to the acceleration of climate change in the present. The alternative policy suggested by Sinn is supply-side policies based on inducing suppliers to leave more of the carbon resources underground by levying source taxes on capital income. There are also disagreements on what conventional policies are most effective in combating climate change. For example, McKibbin and Wilcoxen (2002) are highly critical of the Kyoto Protocol of 1997 as an agreement with no real chance of reducing GHG emissions because it focuses on rigid targets and timetables for emissions reductions instead of the supposedly more efficient and practical approaches that rely on emissions taxes and tradable permits.

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“…The literature on government responsiveness and disaster aids has documented that natural disasters with higher electoral accountability lead to increased efforts of policymakers (Besley and Burgess, 2002;Strömberg, 2004;Eisensee and Strömberg, 2007;Gagliarducci et al, 2019). There has been a separate discussion on the spatial sorting of economic activity after extreme weather events (Dell et al, 2014;Boustan et al, 2012;Deryugina et al, 2018;Jerch et al, 2020;Boustan et al, 2020;Tran et al, 2020). We combine the two pieces of literature by showing that hurricanes with higher electoral incentives convey greater post-disaster efforts to the affected areas, which unintentionally contributes to the spatial sorting of economic activities.…”

Section: Introductionmentioning

confidence: 99%