California is a wildfire hot spot: each year, homes, businesses, and ecosystems are destroyed by fires exacerbated by climate change. But even after the blazes subside, wildfires can still threaten community wellbeing. A new paper by scholars Yanjun (Penny) Liao and Carolyn Kousky, published in the Journal of the Association of Environmental and Resource Economists (JAERE), finds that wildfires increase both revenues and expenditures in California municipalities, but that the combined effect is a budget shortfall over many years.
Click here for original story, After wildfires, California communities struggle with budgets
Source: Phys.org