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  1. Climate change risk and the costs of mortgage credit
    Erschienen: 2020
    Verlag:  Swiss Finance Institute, Geneva

    We show that lenders charge higher interest rates for mortgages on properties exposed to a greater risk of sea level rise (SLR). This SLR premium is not evident in short-term loans and is not related to borrowers’ short-term realized default or... mehr

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    Helmut-Schmidt-Universität, Universität der Bundeswehr Hamburg, Universitätsbibliothek
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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    VS 544
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    We show that lenders charge higher interest rates for mortgages on properties exposed to a greater risk of sea level rise (SLR). This SLR premium is not evident in short-term loans and is not related to borrowers’ short-term realized default or creditworthiness. Further, the SLR premium is smaller when the consequences of climate change are less salient and in areas with more climate change deniers. Overall, our results suggest that mortgage lenders view the risk of SLR as a long-term risk, and that attention and beliefs are potential channels through which SLR risk is priced in residential mortgage markets

     

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    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
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    Schriftenreihe: Research paper series / Swiss Finance Institute ; no 20, 97
    Schlagworte: bank loans; residential mortgage; climate change risk; sea level rise
    Umfang: 1 Online-Ressource (circa 46 Seiten), Illustrationen
  2. Cities and the sea level
    Erschienen: April 2021
    Verlag:  CESifo, Center for Economic Studies & Ifo Institute, Munich, Germany

    Construction on low elevation coastal zones is risky for both residents and taxpayers who bail them out, especially when sea levels are rising. We study this construction using spatially disaggregated data on the US Atlantic and Gulf coasts. We... mehr

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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    DS 63
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    Construction on low elevation coastal zones is risky for both residents and taxpayers who bail them out, especially when sea levels are rising. We study this construction using spatially disaggregated data on the US Atlantic and Gulf coasts. We document nine stylized facts, including a sizeable rise in the share of coastal housing built on flood-prone land from 1990-2010, which concentrated particularly in densely populated areas. To explain our findings, we develop a model of a monocentric coastal city, which we then use to explore the consequences of sea level rise and government policies.

     

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    Sprache: Englisch
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    Weitere Identifier:
    hdl: 10419/235367
    Schriftenreihe: CESifo working paper ; no. 8997 (2021)
    Schlagworte: cities; climate change; sea level rise
    Umfang: 1 Online-Ressource (circa 65 Seiten), Illustrationen
  3. Cities and the sea level
    Erschienen: [2021]
    Verlag:  Centre for Economic Performance, London School of Economics and Political Science, London

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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    VS 449
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    Schriftenreihe: Discussion paper / Centre for Economic Performance ; no. 1758 (April 2021)
    Schlagworte: cities; climate change; sea level rise
    Umfang: 1 Online-Ressource (circa 66 Seiten), Illustrationen
  4. Cities and the sea level
    Erschienen: April 2021
    Verlag:  IZA - Institute of Labor Economics, Bonn, Germany

    Construction on low elevation coastal zones is risky for both residents and taxpayers who bail them out, especially when sea levels are rising. We study this construction using spatially disaggregated data on the US Atlantic and Gulf coasts. We... mehr

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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    Construction on low elevation coastal zones is risky for both residents and taxpayers who bail them out, especially when sea levels are rising. We study this construction using spatially disaggregated data on the US Atlantic and Gulf coasts. We document nine stylized facts, including a sizeable rise in the share of coastal housing built on flood-prone land from 1990-2010, which concentrated particularly in densely populated areas. To explain our findings, we develop a model of a monocentric coastal city, which we then use to explore the consequences of sea level rise and government policies.

     

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    Sprache: Englisch
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    Weitere Identifier:
    hdl: 10419/236274
    Schriftenreihe: Discussion paper series / IZA ; no. 14243
    Schlagworte: cities; climate change; sea level rise
    Umfang: 1 Online-Ressource (circa 65 Seiten), Illustrationen
  5. Insurance retreat in residential properties from future sea level rise in Aotearoa New Zealand
    Erschienen: October 2022
    Verlag:  CESifo, Munich, Germany

    How will the increased frequency of coastal inundation events induced by sea level rise impact residential insurance premiums, and when would insurance contracts be withdrawn? We model the contribution of localised sea level rise to the increased... mehr

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    How will the increased frequency of coastal inundation events induced by sea level rise impact residential insurance premiums, and when would insurance contracts be withdrawn? We model the contribution of localised sea level rise to the increased frequency of coastal inundation events. Examining four Aotearoa New Zealand cities, we combine historical tide-gauge extremes with geo-located property data to estimate the annual expected loss from this hazard, for each property, to establish when insurance retreat is likely to occur. We find that as sea level rise changes the frequency of inundation events, 99% of properties currently within 1% AEP coastal inundation zones can expect at least partial insurance retreat within a decade (associated with less than 10cm of sea level rise). Our modelling predicts that full insurance retreat is likely within 20 - 25 years, with timing dependent on the tidal range in each location, and, more intuitively, on the property's elevation and distance from the coast.

     

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    Sprache: Englisch
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    Weitere Identifier:
    hdl: 10419/267250
    Schriftenreihe: CESifo working papers ; 10017 (2022)
    Schlagworte: insurance; retreat; sea level rise; SLR; climate
    Umfang: 1 Online-Ressource (circa 25 Seiten), Illustrationen
  6. Leveraging the disagreement on climate change
    theory and evidence
    Erschienen: [2023]
    Verlag:  Federal Reserve Bank of Richmond, Richmond

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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    VS 384
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    Schriftenreihe: Working paper series / Federal Reserve Bank of Richmond ; WP 23, 01
    Schlagworte: climate finance; sea level rise; heterogeneous beliefs; real estate; mortgage; search and matching; monetary policy
    Umfang: 1 Online-Ressource (circa 77 Seiten), Illustrationen
  7. Charting the course: how does information about sea level rise affect the willingness to migrate?
    Erschienen: [2023]
    Verlag:  Federal Reserve Bank of Richmond, Richmond

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    Sprache: Englisch
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    Schriftenreihe: Working paper series / Federal Reserve Bank of Richmond ; WP 23, 09
    Schlagworte: climate change; sea level rise; migration; disaster risk communication; survey experiment; public information
    Umfang: 1 Online-Ressource (circa 26 Seiten), Illustrationen
  8. Estimating and mapping natural hazards and risk reduction provided by coastal ecosystems
    Erschienen: June 2023
    Verlag:  Inter-American Development Bank, Department of Research and Chief Economist, [Washington, DC]

    We present two case studies in which coastal vulnerability modeling was used to quantify the role those coastal ecosystems play in reducing risk to coastal communities now and with future sealevel rise. These analyses were used to inform... mehr

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    DS 144
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    We present two case studies in which coastal vulnerability modeling was used to quantify the role those coastal ecosystems play in reducing risk to coastal communities now and with future sealevel rise. These analyses were used to inform post-disaster reconstruction and coastal resilience building efforts as well as climate change adaptation strategies. Our goal is to quantify the role that coastal habitat plays in reducing risk to people and shoreline under current conditions and with future sea level rise (SLR). With SLR, we find that the extent of shoreline most exposed to coastal hazards would more than double, and the total population would nearly triple in The Bahamas. Similarly, the population living along high-risk shorelines increases by over 10x if habitat is lost and sea level rise is accounted for in the Mesoamerican Reef.

     

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    Sprache: Englisch
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    Weitere Identifier:
    hdl: 10419/289927
    Schriftenreihe: IDB working paper series ; no IDB-WP-1332
    Schlagworte: Disaster risk reduction; coastal ecosystems; sea level rise; climate change
    Umfang: 1 Online-Ressource (circa 22 Seiten), Illustrationen