Fiscal policy response of local governments to floods in Italy

Chiara Lodi, Giovanni Marin and Marco Modica
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Chiara Lodi: Department of Economics, Society, Politics, University of Urbino Carlo Bo and SEEDS
Marco Modica: Gran Sasso Science Institute

No 2022.34, Working Papers from Fondazione Eni Enrico Mattei

Abstract: This paper aims at empirically testing the dynamics of budget outcomes of Italian municipalities in the aftermath of floods, by accounting for heterogeneous levels of resilience and vulnerability to natural disasters. Our findings, based on a dynamic difference-in-difference after propensity score matching, point to substantial impacts in terms of increased capital expenditure and revenues from transfer, which also depend on the degree of resilience and vulnerability. Through our analysis we account for multiple aspects of risk so we can support policy decisions related to both ex-ante and ex-post disaster occurrence management.

Keywords: Floods; Fiscal Policy of Local Governments; Resilience; Vulnerability (search for similar items in EconPapers)
JEL-codes: H2 H72 Q54 (search for similar items in EconPapers)
Date: 2022-11
New Economics Papers: this item is included in nep-env and nep-ure
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Working Paper: Fiscal policy response of local governments to floods in Italy (2022)
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