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flood risk beliefs. The model incorporates a Bayesian learning mechanism allowing agents to update their beliefs depending … on whether flood events occur. Second, to quantify these elements, we implement a door-to-door survey campaign in Rhode … Island. The results confirm significant heterogeneity in flood risk beliefs, and that selection into coastal homes is driven …
Persistent link: https://www.econbiz.de/10012453857
-maturity bonds and is not solely driven by near-term flood risk. We use a structural model of credit risk to quantify the implied …
Persistent link: https://www.econbiz.de/10013462708
different levels of migration frictions. We bring the model to the data for the whole world economy at a 1°×1° geographic … regions in the world. We then use the model to study the effect of a spatial shock. We focus on the example of a rise in the … of the world economy …
Persistent link: https://www.econbiz.de/10012457579
. By constructing a global city data set that covers the years 2012 to 2018, we test several flood risk adaptation … hypotheses. Population growth is lower in cities that suffer from more floods. Richer cities suffer fewer deaths from flood …
Persistent link: https://www.econbiz.de/10013334356
economies, are false or need serious amendment in a world with international trade in goods. Since the three results we … a re-examination may be in order. Specifically, we demonstrate that in an open trading world, but not in a closed …
Persistent link: https://www.econbiz.de/10012471110
This paper shows that greater global spatial correlation of productivities can increase cross-country welfare dispersion by increasing the correlation between a country's productivity and its gains from trade. We causally validate this prediction using a global climatic phenomenon as a natural...
Persistent link: https://www.econbiz.de/10012479403
world real GDP per capita by 7.22 percent by 2100. On the other hand, abiding by the Paris Agreement, thereby limiting the …
Persistent link: https://www.econbiz.de/10012480113
Empirical analyses of climatic event impacts on growth, while critical for policy, have been slow to be incorporated into macroeconomic climate-economy models. This paper proposes a joint empirical-structural approach to bridge this gap for tropical cyclones. First, we review competing empirical...
Persistent link: https://www.econbiz.de/10012480548
I formally relate the consequences of climate change to the time series variation in weather extensively explored by recent empirical literature. I show that reduced-form fixed effects estimators can recover the effects of climate if agents are myopic, if agents' payoff functions belong to a...
Persistent link: https://www.econbiz.de/10012480661
Climate change effects on agricultural yields will be uneven over the world with a few countries, mostly in high …
Persistent link: https://www.econbiz.de/10012480872