Conference Agenda
Overview and details of the sessions of this conference. Please select a date or location to show only sessions at that day or location. Please select a single session for detailed view (with abstracts and downloads if available).
Please note that all times are shown in the time zone of the conference. The current conference time is: 24th Aug 2026, 01:52:38am WEST
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Daily Overview |
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Climate Finance, Regulation and ESG Location: B128 Session Chair: Georgios P. Trachanas, National Technical University of Athens | |
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When the Water Recedes and Home Prices Don't: Flood Risk Learning and Neighborhood Spillovers CUNY, Queens College, United States of America What are the long-run effects of flooding on home values? We use new difference-in-difference methods for setups with local spillovers to analyze the effects of 2012 hurricane Sandy on New York's housing market. We show that, more than a decade after the storm and long after damage was repaired, flooded properties continue to sell at a substantial discount. Our estimates also suggest that the discount is inversely related to the severity of flooding, consistent with the stronger informational signal conveyed by flooding of less exposed properties. Last, we estimate large local spillover effects that persistently lowered the values of nearby non-flooded properties. Spillover effects reduce homeowners' incentives to invest in flood-mitigation actions, as such individual efforts cannot fully prevent value depreciation. | |