Extreme weather events are increasing in frequency and intensity, threatening lives and livelihoods around the world. Understanding the short- and long-term effects of such events is necessary for crafting optimal policy. The short-term economic impacts of natural disasters can be severe,...

We follow Medicare cohorts over time and space to estimate Hurricane Katrina's long-run mortality effects on elderly and disabled victims initially living in New Orleans. Inclusive of the initial shock, the hurricane improved survival eight years past the storm by 1.74 percentage points....

We follow Medicare cohorts to estimate Hurricane Katrina's long-run mortality effects on victims initially living in New Orleans. Including the initial shock, the hurricane improved eight-year survival by 2.07 percentage points. Migration to lower-mortality regions explains most of this survival...

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...

Climate change is increasing the frequency of extreme weather events and natural disasters, which could in turn make municipal bonds---a $4 trillion market in the US---a fundamentally riskier asset class. We study the effect of natural disasters on municipal bond returns and volatilities,...

COVID-19 has created a dual set of stresses on health care systems worldwide: a rise in expensive intensive care services and a dramatic decline in elective services. The U.S. government has responded with both grant and loan programs to help health care providers weather the storm. But the...

COVID-19 has created a dual set of stresses on health care systems worldwide: a rise in expensive intensive care services and a dramatic decline in elective services. The U.S. government has responded with both grant and loan programs to help health care providers weather the storm. But the...