Search Results
Journal Article
Steps to ease financial stress in areas affected by flooding
Working Paper
The political economy of FEMA disaster payments
We find that presidential and congressional influences affect the rate of disaster declaration and the allocation of FEMA (Federal Emergency Management Agency) disaster expenditures across states. States politically important to the president have a higher rate of disaster declaration by the president, and disaster expenditures are higher in states having congressional representation on FEMA oversight committees. Election year impacts are also found. Our models predict that nearly half of all disaster relief is motivated politically rather than by need. The findings reject a purely altruistic ...
Working Paper
Political allocation of U.S. agriculture disaster payments in the 1990s
Legislation passed during the 1990s attempted to move U.S. agriculture disaster relief to a more market oriented process. The failure of this legislation has been attributed to the political system behind agricultural disaster relief. This paper explores the impact of political influence on the allocation of U.S. direct agriculture disaster payments. The results reveal that disaster payments are not based solely on need, but are higher in those states represented by public officials key to the allocation of relief. The effectiveness of legislation aimed at promoting more efficient disaster ...
Journal Article
Hurricanes Katrina and Rita: assessing the aftermath
Discussion Paper
The role of electronic payments in disaster recovery: providing more than convenience
On May 3-4, 2006, the Payment Cards Center hosted a two-day conference titled ?The Role of Electronic Payments in Disaster Recovery: Providing More Than Convenience.? The event brought together participants from a range of groups, including financial institutions and other financial service providers; federal and state government and national relief agencies; and the bank regulatory community. Participants examined the lessons learned from Hurricane Katrina and considered how these experiences may be useful in identifying opportunities to further strengthen the financial system?s response to ...
Journal Article
The economics of natural disasters
Speech
The national and regional economy
Remarks at Pace University, New York City.
Journal Article
Introduction
This volume of the Economic Policy Review, "Special issue on the economic effects of September 11," explores some of the key economic consequences of the attacks of September 11. The six articles that make up the volume address several important questions: how great were the losses in New York City on September 11 and in the difficult months thereafter? How much will the nation spend to prevent future attacks? Did the destruction of information and infrastructure impair the functioning of the payments and securities settlement systems, and what steps minimize further damage? Will these ...