Exceptionally high rainfall in the Indian state of Kerala caused major flooding in 2018. This paper estimates the short-run causal impact of the disaster on the economy, using a difference-in-difference approach. Monthly nighttime light intensity, a proxy for aggregate economic activity,...

In the United States, flood events are the most economically damaging type of natural disaster. Some of the most widely used tools for understanding property flood risk in the United States are the Flood Insurance Rate Maps (FIRMs) produced by the Federal Emergency Management Agency (FEMA)....

Some regional banks are highly exposed to flood risk. Yet, there is little evidence that banks manage these exposures. The lack of flood risk management in these banks could worsen the adverse local economic impact of a flood. Therefore, banks should incorporate flood risk in their risk management.

This paper aims at empirically testing the dynamics of budget outcomes of Italian municipalities in the aftermath of floods, by accounting for heterogeneous levels of resilience and vulnerability to natural disasters. Our findings, based on a dynamic difference-in-difference after propensity...

Flood risk has consistently been ranked as one of the major emerging risks, with the potential of having a substantial systemic impact on the insurance industry. In this paper, we provide a micro-economic foundation for a flood risk insurance market. Specifically, we characterize Pareto-optimal...

In the context of the rapid changes that have occurred in recent years, characterized by veritable "black swans" such as the COVID19 pandemic and extreme weather events that are occurring with increasing frequency, the issue of climate change has come into the focus of banking regulators and...