Billion - Global Business and Finance Magazine

Weathering the storm: The role of adaptation in mitigating the economic impact of floods

GLOBAL BUSINESS AND FINANCE MAGAZINE
May 5, 2025
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Floods are the costliest type of natural disaster in Europe, but little is known about whether adaptation investments such as flood defences can shield the economy. This column studies how floods affect output and prices at the sectoral level in England and the effect of adaptation investments. Floods affect sectors differently, acting as both supply […]

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Tariffs cannot fund the government: Evidence from tariff Laffer curves

GLOBAL BUSINESS AND FINANCE MAGAZINE
April 28, 2025
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Until the late 19th century, states raised most of their government revenues from import tariffs. This column asks whether the practice could work today. A side effect of taxes is that they discourage the economic activity that they are assessed on. Tariffs are taxes on imports and no different: they shrink trade. The authors allow […]