Showing 1 - 10 of 2,093
This study measures the degree to which large public expenditures on wildfire protection subsidize development in harm's way. Using administrative firefighting data, we calculate geographically-differentiated implicit subsidies to homeowners throughout the western USA. We first examine how the...
Persistent link: https://www.econbiz.de/10012857812
How well do countries cope with the aftermath of natural disasters? In particular, do international financial flows help buffer countries in the wake of disasters? This paper focuses on hurricanes (one of the most common and destructive types of disasters), and examines the impact of hurricane...
Persistent link: https://www.econbiz.de/10012778080
pre-disaster trend, and do not recover within twenty years. Both rich and poor countries exhibit this response, with … suppression of annual growth rates spread across the fifteen years following disaster, generating large and significant cumulative … continuous exposure to disaster. Linking these results to projections of future cyclone activity, we estimate that under …
Persistent link: https://www.econbiz.de/10013049691
How do innovators respond to the shock of a natural disaster? Do natural disasters spur technical innovations that can …, droughts and flooding on the innovation of their respective mitigation technologies. Using patent and disaster data, our study …
Persistent link: https://www.econbiz.de/10013035368
A growing body of evidence suggests that uncertainty is counter cyclical, rising sharply in recessions and falling in booms. But what is the causal relationship between uncertainty and growth? To identify this we construct cross country panel data on stock market levels and volatility as proxies...
Persistent link: https://www.econbiz.de/10013062729
This paper documents several facts on the real effects of economic uncertainty. First, higher uncertainty is associated with a more dispersed distribution of output growth. Second, the relation is highly asymmetric: A rise in uncertainty is associated with a sharp decline in the lower tail of...
Persistent link: https://www.econbiz.de/10014091106
regional-level mitigation or adaptation, which reduces disaster risks to capital in the interim. Mitigation depends on belief … regarding the adverse consequences of global warming. Pessimism jumps with a disaster and slowly reverts in the absence of … increasing cyclone frequency. For a typical country exposed to cyclones, a disaster arrival not only damages its capital stock …
Persistent link: https://www.econbiz.de/10013311024
The Home Owners' Loan Corporation purchased more than a million delinquent mortgages from private lenders between 1933 and 1936 and refinanced the loans for the borrowers. Its primary goal was to break the cycle of foreclosure, forced property sales and decreases in home values that was...
Persistent link: https://www.econbiz.de/10013139741
Over the U.S. business cycle, fluctuations in residential investment are well known to systematically lead GDP. These dynamics are documented here to be specific to the U.S. and Canada. In other developed economies residential investment is broadly coincident with GDP. Nonresidential investment...
Persistent link: https://www.econbiz.de/10013099826
Over the past 30 years, eastern Massachusetts has seen a remarkable combination of rising home prices and declining supply of new homes. The reductions in new supply don't appear to reflect a real lack of land, but instead reflect a response to man-made restrictions on development. In this...
Persistent link: https://www.econbiz.de/10012778249