Fact-check: The NBER working paper w34916 titled 'Climate Disasters and Intergenerational Equity: A Fiscal Rule for Sustainable Development' by Harrison Hong, Heqing Huang, and Neng Wang exists and precisely matches the article's title and summary description, as verified on the official NBER website and academic repositories like SSRN and ResearchGate. The paper has been shared on X recently by users linking directly to the NBER page, providing real-time corroboration. NBER is a highly reputable source for economic research, aligning perfectly with the situation context on climate fiscal policy.
Climate Disasters and Intergenerational Equity: A Fiscal Rule for Sustainable Development -- by Harrison Hong, Heqing Huang, Neng Wang
Researchers Harrison Hong, Heqing Huang, and Neng Wang present an economic model examining how governments can address intergenerational equity risks posed by climate disasters through state-contingent fiscal rules. The model proposes that when perceived disaster risk is high, governments should raise consumption taxes to finance resilience investment subsidies, aligning with UN Sustainable Development Goals principles. The study finds this sustainability-constraint approach improves asset valua