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19 results

  • Fiscal shortage risk and the potential role for tropical storm insurance: evidence from the Caribbean
  • Bazoumana Ouattara, Eric Strobl, Jan Vermeiren, Stacia Yearwood
  • Journal: Environment and Development Economics / Volume 23 / Issue 6 / December 2018
  • Published online by Cambridge University Press: 22 June 2018, pp. 702-720
  • View abstract

    Recently a number of multi-country insurance schemes have been introduced to deal with short-term fiscal liquidity gaps after natural disasters. However, little is known about the actual underlying risk to the fiscal sector just after such events. In this paper, we estimate the risk of fiscal shortages due to tropical storms in the Caribbean. To this end, first we use a panel VAR and estimate that while government expenditure does not respond to damages due to tropical storms, there is a significant contemporaneous effect on fiscal revenue. The results also reveal that different components of expenditure and revenue respond differently to hurricane shocks. Then, employing a parametric bulk extreme value model on estimated losses due to historical events, we show that the fiscal shortage due to storms can potentially be sizeable depending on the rarity of the event, but varies considerably across islands. However, any risk assessment is fraught with considerable uncertainty, particularly for rare but potentially very damaging tropical storm strikes.

The First World War and German National Identity
  • The First World War and German National Identity
  • The Dual Alliance at War
  • Jan Vermeiren
  • Published online: 05 July 2016
  • Print publication: 18 July 2016
  • View description
    The First World War and German National Identity is an original and carefully researched study of the coalition between Imperial Germany and Austria-Hungary during the First World War. Focusing on the attitudes taken by governmental circles, politically active groups, intellectuals, and the broader public towards the German-speaking population in the Habsburg Monarchy, Jan Vermeiren explores how the war challenged established notions of German national identity and history. In this context, he also sheds new light on key issues in the military and the diplomatic relationship between Berlin and Vienna, re-examining the German war aims debate and presenting many new insights into German-Hungarian and German-Slav relations in the period. The book is a major contribution to German and Central European history and will be of great interest to scholars of the First World War and the complex relationship between war and society.