IDEAS home Printed from https://ideas.repec.org/a/alu/journl/v1y2007i9p3.html
   My bibliography  Save this article

Public Finance And Extreme Events

Author

Listed:
  • Ioan TalpoÅŸ
  • Cosmin Enache

Abstract

The paper intends to review an area of the public finance that is rarely under the attention of the researchers: how the public finance reacts when an extreme event happens? First, we tried to overcome the difficulties arising from the need to clearly define the term “extreme event†. Second, we consider the public authorities intervention through public finance channels when an extreme events occurs. And, finally, we review some public-private partnership solutions to a crisis generated by an extreme event.

Suggested Citation

  • Ioan TalpoÅŸ & Cosmin Enache, 2007. "Public Finance And Extreme Events," Annales Universitatis Apulensis Series Oeconomica, Faculty of Sciences, "1 Decembrie 1918" University, Alba Iulia, vol. 1(9), pages 1-3.
    • Handle: RePEc:alu:journl:v:1:y:2007:i:9:p:3
    as

    Download full text from publisher

    File URL: http://oeconomica.uab.ro/upload/lucrari/920071/03.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. David E. Wildasin, 2006. "Disasters: Issues for State and Federal Government Finances," Working Papers 2006-07, University of Kentucky, Institute for Federalism and Intergovernmental Relations.
    2. Evis Këllezi & Manfred Gilli, 2000. "Extreme Value Theory for Tail-Related Risk Measures," FAME Research Paper Series rp18, International Center for Financial Asset Management and Engineering.
    3. Sanders, D. E. A., 2005. "The Modelling of Extreme Events," British Actuarial Journal, Cambridge University Press, vol. 11(3), pages 519-557, August.
    4. Howard Kunreuther, 2001. "Risk Analysis and Risk Management in an Uncertain World," Center for Financial Institutions Working Papers 02-08, Wharton School Center for Financial Institutions, University of Pennsylvania.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Cristina Sommacampagna, 2002. "Stima del Value-at-Risk con il Filtro di Kalman," Rivista di Politica Economica, SIPI Spa, vol. 92(6), pages 147-174, November-.
    2. Wildasin, David E., 2007. "Pre–Emption: Federal Statutory Intervention in State Taxation," National Tax Journal, National Tax Association;National Tax Journal, vol. 60(3), pages 649-662, September.
    3. Robert A. Baade & Robert Baumann & Victor Matheson, 2007. "Estimating the Economic Impact of Natural and Social Disasters, with an Application to Hurricane Katrina," Urban Studies, Urban Studies Journal Limited, vol. 44(11), pages 2061-2076, October.
    4. Lampros Kalyvas & Athanasios Sfetsos, 2006. "Does The Application Of Innovative Internal Models Diminish Regulatory Capital?," International Journal of Theoretical and Applied Finance (IJTAF), World Scientific Publishing Co. Pte. Ltd., vol. 9(02), pages 217-226.
    5. Novak, S.Y. & Beirlant, J., 2006. "The magnitude of a market crash can be predicted," Journal of Banking & Finance, Elsevier, vol. 30(2), pages 453-462, February.
    6. Hikaru Ogawa & David E. Wildasin, 2009. "Think Locally, Act Locally: Spillovers, Spillbacks, and Efficient Decentralized Policymaking," American Economic Review, American Economic Association, vol. 99(4), pages 1206-1217, September.
    7. David Wildasin, 2007. "Disaster Policy in the US Federation: Intergovernmental Incentives and Institutional Reform," Working Papers 2007-01, University of Kentucky, Institute for Federalism and Intergovernmental Relations.
    8. Bystrom, Hans N. E., 2004. "Managing extreme risks in tranquil and volatile markets using conditional extreme value theory," International Review of Financial Analysis, Elsevier, vol. 13(2), pages 133-152.
    9. Christos Kotsogiannis & Robert Schwager, 2006. "Fiscal Equalization and Yardstick Competition," CESifo Working Paper Series 1865, CESifo.
    10. Bystrom, Hans N. E., 2005. "Extreme value theory and extremely large electricity price changes," International Review of Economics & Finance, Elsevier, vol. 14(1), pages 41-55.
    11. Haque, Mahfuzul & Varela, Oscar & Hassan, M. Kabir, 2007. "Safety-first and extreme value bilateral U.S.-Mexican portfolio optimization around the peso crisis and NAFTA in 1994," The Quarterly Review of Economics and Finance, Elsevier, vol. 47(3), pages 449-469, July.
    12. Gupta, Anurag & Liang, Bing, 2005. "Do hedge funds have enough capital? A value-at-risk approach," Journal of Financial Economics, Elsevier, vol. 77(1), pages 219-253, July.
    13. Li, Wenwei & Hommel, Ulrich & Paterlini, Sandra, 2018. "Network topology and systemic risk: Evidence from the Euro Stoxx market," Finance Research Letters, Elsevier, vol. 27(C), pages 105-112.

    More about this item

    Keywords

    public finance; extreme event; public-private partnership;
    All these keywords.

    JEL classification:

    • H10 - Public Economics - - Structure and Scope of Government - - - General
    • H50 - Public Economics - - National Government Expenditures and Related Policies - - - General

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:alu:journl:v:1:y:2007:i:9:p:3. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Dan-Constantin Danuletiu (email available below). General contact details of provider: .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.