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...

How do climate risk beliefs affect coastal housing markets? This paper provides theoretical and empirical evidence. First, we build a dynamic housing market model and show that belief heterogeneity can reconcile the mixed empirical evidence on flood risk capitalization into housing prices....

This paper explores the fiscal impacts of climate change and their policy implications for the United States. I develop and empirically quantify a climate-macroeconomic model where climate change can affect (i) government consumption requirements (e.g., healthcare), (ii) transfer payments (e.g.,...

A growing literature has sought to quantify the impacts of natural disasters on economic growth, but has found seemingly contradictory results, ranging from positive to very large negative effects. This paper brings a novel macroeconomic model-based perspective to the data. We present a...

We provide the first revealed preference estimates of the benefits of routine weather forecasts. The benefits come from how people use advance information to reduce mortality from heat and cold. Theoretically, more accurate forecasts reduce mortality if and only if mortality risk is convex in...

China currently suffers from the impacts of tropical cyclones, with an average of 9 landfalls per year leading to approximately $3.9 billion in damages and 472 lives lost. In this analysis, we estimate the impact of socioeconomic and climatic changes on these disaster losses. We first calculate...