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dc.contributor.authorTrezzi, R.
dc.contributor.authorPorcelli, F.
dc.date.accessioned2016-10-12T11:05:20Z
dc.date.available2016-10-12T11:05:20Z
dc.date.issued2016-08-24
dc.identifier.otherCWPE1649
dc.identifier.urihttps://www.repository.cam.ac.uk/handle/1810/260727
dc.description.abstractA law issued to allocate reconstruction grants following the 2009 "Aquilano" earthquake has resulted in a large and unanticipated discontinuity across municipalities with comparable damages. Using diff-in-diff analysis we estimate the "local spending" and the "local tax" multipliers--according to the composition of the stimulus--controlling for the negative supply shock generated by the event. The stimulus prevented a fall in economic activity and the multiplicative effects of tax cuts are estimated much higher than those of spending. Our results underline the importance of countercyclical fiscal interventions and suggest the most effective composition of such a stimulus.
dc.publisherFaculty of Economics
dc.relation.ispartofseriesCambridge Working Papers in Economics
dc.rightsAll Rights Reserveden
dc.rights.urihttps://www.rioxx.net/licenses/all-rights-reserved/en
dc.subjectNatural disasters
dc.subjectfiscal multipliers
dc.subjectMercalli scale
dc.titleReconstruction multipliers
dc.typeWorking Paper
dc.identifier.doi10.17863/CAM.5881


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