First published on
26 November 2021
Discussion Paper 151

Fellowship Initiative 2020-2021 “Costly Disasters and the Role of Fiscal Policy: Evidence from US States"


This paper provides study on the effects of natural disasters in US states and the fiscal reaction of both state and federal policy.

DG ECFIN's Fellowship Initiative 2020-2021 “Shifting paradigms: The quest for new modes of sustainable growth and convergence” sought contributions exploring underlying and emerging trends in the quest for new growth models that respect the limitations of natural resources while ensuring job creation and lasting prosperity in Europe. Achieving a successful transition to become the world’s first climate-neutral, resource efficient continent, fit for the digital age, while ensuring social fairness requires identifying evolving trends and challenges to success stemming from ageing and inherent to both environmentally sustainable development and the transition to a digital society. The fellowships were awarded to prominent scholars in the field to interact with staff in ECFIN and other Commission colleagues, and to prepare final reports on specific research questions brought by these shifting paradigms.


Fabio Canova (BI Norwegian Business School), Evi Pappa (Universidad Carlos III de Madrid)

Information and identifiers

Discussion Paper 151. November 2021. Brussels. PDF. 38pp. Tab. Graph. Bibliogr. Free.

KC-BD-21-008-EN-N (online)
ISBN 978-92-76-38752-7 (online)
ISSN 2443-8022 (online)
doi:10.2765/437788 (online)

JEL classification: H10, H20, H30, H40, H50, H60


2021 Fellowship Initiative Papers are written by external experts commissioned to write research papers, retaining complete academic independence, contributing to the discussion on economic policy and stimulating debate.

The views expressed in this document are solely those of the author(s) and do not necessarily represent the official views of the European Commission.


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