In recent decades, the increase in the frequency and the severity of natural disasters has
posed growing challenges to governments' disaster response activities. Disasters can have …

For all governments—federal, state, or local—natural disasters impose significant costs.
Among the three, local governments typically respond first using their own resources. Thus …

This paper documents the response of the municipal bond market to major floods, and
assesses several explanations for this response. The results show that bonds sold following …

This study uses analyses of annual comprehensive financial reports and interviews to
explore capital asset reporting policies and management practices in 40 US counties. It …

In the United States, local governments often face significant fiscal challenges following
disasters. For example, damage to homes and businesses can impact various revenue …

The first essay (chapter 2) examines the impact of major US natural disasters on the stock
returns and volatilities of firms based in disaster areas. We find that a small proportion of …