Do natural disasters stimulate individual saving? : evidence from a natural experiment in a highly developed country
Michael Berlemann; Max Steinhardt; Jascha Tutt
While various empirical studies have found negative growth-effects of natural disasters, little is yet known about the microeconomic channels through which disasters might affect short- and especially long-term growth. This paper contributes to filling this gap in the literature by studying how natural disasters affect individual saving decisions. This study makes use of a natural experiment created by the European Flood of August 2002. Using micro data from the German Socio-Economic Panel that we combine with geographic flood data, we compare the savings behavior of affected and non-affected individuals by using a difference-in-differences approach. Our empirical results indicate that natural disasters depress individual saving decisions, which might be the consequence of a Samaritan's Dilemma.
Year of publication: |
2015
|
---|---|
Authors: | Berlemann, Michael ; Steinhardt, Max Friedrich ; Tutt, Jascha |
Publisher: |
Berlin : DIW |
Subject: | natural disasters | floods | growth | saving behavior | difference-in-differences approach | Sparen | Savings | Katastrophe | Disaster | Überschwemmung | Flood | Entwicklungsländer | Developing countries | Wirkungsanalyse | Impact assessment | Wirtschaftswachstum | Economic growth |
Saved in:
freely available
Extent: | Online-Ressource (49 S.) graph. Darst., Kt. |
---|---|
Series: | SOEP papers on multidisciplinary panel data research / German Socio-Economic Panel Study (SOEP), DIW Berlin. - Berlin : DIW, ISSN 1864-6689, ZDB-ID 2403710-2. - Vol. 763 |
Type of publication: | Book / Working Paper |
Language: | English |
Notes: | Systemvoraussetzungen: Acrobat Reader |
Other identifiers: | hdl:10419/111088 [Handle] |
Classification: | Q54 - Climate; Natural Disasters ; D14 - Personal Finance ; O16 - Financial Markets; Saving and Capital Investment ; h84 |
Source: | ECONIS - Online Catalogue of the ZBW |
Persistent link: https://www.econbiz.de/10011283079