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associated with a stronger relationship between premiums and local disaster risk: A one standard-deviation increase in disaster … risk is associated with $500 higher premiums in 2023, up from $300 in 2018. Second, using the rapid rise in reinsurance … prices as a natural experiment, we show that the increase in the risk-to-premium gradient was largely caused by the pass …
Persistent link: https://www.econbiz.de/10014576608
distribution, with associated costs for weather risk management and risk-averse decision-makers. These costs result purely from the …
Persistent link: https://www.econbiz.de/10014635647
A growing literature uses now widely-available data on beliefs and expectations in the estimation of structural models. In this chapter, we review this literature, with an emphasis on models of individual and household behavior. We first show how expectations data have been used to relax strong...
Persistent link: https://www.econbiz.de/10013210122
We study how investors respond to inflation combining a customized survey experiment with trading data at a time of historically high inflation. Investors' beliefs about the stock return-inflation relation are very heterogeneous in the cross section and on average too optimistic. Moreover, many...
Persistent link: https://www.econbiz.de/10014544748
Financial ties between drug companies and medical researchers are thought to bias studies published in medical journals. To enable readers to account for such bias, most medical journals require authors to disclose potential conflicts of interest. We examine whether disclosure reduces article...
Persistent link: https://www.econbiz.de/10014226124
We study the redistributive effects of inflation combining administrative bank data with an information provision experiment during an episode of historic inflation. On average, households are well-informed about prevailing inflation and are concerned about its impact on their wealth; yet, while...
Persistent link: https://www.econbiz.de/10014372429
to adapt to climate change both overall and in response to their perceived climate risk. Other aspects of firm …
Persistent link: https://www.econbiz.de/10014576624
The impact of exposure to a major unanticipated natural disaster on the evolution of survivors' attitudes toward risk … to take on risk relative to those not directly exposed to the tsunami. These differences are short-lived: starting a year … later, there is no evidence of differences in willingness to take on risk between the two groups. These conclusions hold for …
Persistent link: https://www.econbiz.de/10014250120
Climate change is increasing the frequency of natural disasters, which could make municipal bonds a riskier asset class. We study the effects of natural disasters on municipal bond returns, exploiting the repeat sales approach to overcome the challenge that municipal bonds trade extremely...
Persistent link: https://www.econbiz.de/10013334497
Quantifying factors giving rise to temporal variation in forest fires is important for advancing scientific understanding and improving fire prevention. We demonstrate that eighty percent of the large year-to-year variation in forest area burned in California can be accounted for by variation in...
Persistent link: https://www.econbiz.de/10014372495