The National Flood Insurance Program (NFIP) is chronically insolvent due to the increased intensity and frequency of natural disasters. NFIP was not designed to be actuarially sound; however, the increasing debt associated with NFIP has resulted in policy efforts to increase flood insurance...

Spatial equilibrium in housing markets implies that distant factors are correlated with prices in specific (focal) neighborhoods through market mechanisms. Using this logic, we develop a novel approach for handling price endogeneity in a reduced-form land use model. We combine a control function...

Lake Erie has experienced unprecedented harmful algal blooms since the early 2000s, prompting the 2012 Great Lakes Water Quality Agreement between the United States and Canada, which aims to reduce lake-wide phosphorous loadings by 40%. Little is known about the economic benefits from this...