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Discussion Paper
Social Ties, Space, and Resilience: Literature Review of Community Resilience to Disasters and Constituent Social and Built Environment Factors
Carpenter, Ann (2013-09-01)
Communities have faced a variety of crises in recent decades, including more frequent and severe natural disasters. As applied to disasters, resilience entails the ability of a community to rebound following a hurricane, earthquake, or other disturbance. Given the importance of resilience in promoting an effective recovery, the factors that contribute to community resilience are of great interest to scholars and practitioners in many fields. Recent work has examined, for example, socioeconomic indicators that contribute to greater social vulnerability and organizational structures that ...
FRB Atlanta Community and Economic Development Discussion Paper , Paper 2013-02

Discussion Paper
Risk and Resilience: How Weather-Related Disasters Impact Economically Marginalized Communities
Cabrera, Leah; Council, Dontá; Meagher, Grace (2024-06-01)
Weather-related disaster risks have adverse economic impacts for workers, households, and communities across the country. Low-income communities and communities of color tend to be at disproportionate risk to economic disruptions from weather-related disasters. Our team surveyed and interviewed professionals in the Southeast that work with or whose work impacts these marginalized communities across core issue areas relevant to community development, resilience, and disaster risk management in the nonprofit, public, and private sectors. Respondents and interviewees shared their perceptions of ...
FRB Atlanta Community and Economic Development Discussion Paper , Paper 2024-02

Report
The Effects of Weather on Massachusetts Municipal Expenditures: Implications of Climate Change for Local Governments in New England
Zhao, Bo (2022-12-01)
In New England, municipal governments provide a variety of public services that are vital to residents and businesses, such as public works, police and fire services, and general government administration. However, the region and its local governments face an increasing threat from climate change. As recorded by the National Oceanic and Atmospheric Administration, New England states have become hotter and wetter and have experienced an increased number of extreme precipitation events since 1900. Rising temperatures and more frequent extreme precipitation events are projected for the region ...
New England Public Policy Center Research Report , Paper 22-2

Working Paper
The Impact of Weather on Local Government Spending
Zhao, Bo (2022-09-01)
While there is a new and rapidly growing literature on the effects of climatic factors on economic and social outcomes, little research has been conducted to understand the fiscal impact of weather, especially at the sub-state level. Using data from Massachusetts municipalities from 1990 through 2019, this paper estimates government spending as a function of temperature and precipitation while controlling for municipality and year fixed effects and municipality-specific time trends. The results show that weather has statistically significant and economically meaningful effects on local ...
Working Papers , Paper 22-22

Working Paper
Household Finance after a Natural Disaster: The Case of Hurricane Katrina
Hartley, Daniel; Gallagher, Justin (2014-08-12)
Little is known about how affected residents are able to cope with the fi nancial shock of a natural disaster. We investigate the impact that flooding from a major US hurricane had on household finance. Spikes in credit card borrowing and overall delinquency rates for the most flooded residents are modest in size and short-lived. Greater flooding results in larger reductions in total debt. Lower debt levels appear to be driven by homeowners using flood insurance to repay their mortgages rather than to rebuild. Debt reductions are larger in census tracts where mortgages were likely to be ...
Working Papers (Old Series) , Paper 1406

Working Paper
Migration as a Vector of Economic Losses from Disaster-Affected Areas in the United States
Fussell, Elizabeth; DeWaard, Jack; Whitaker, Stephan D.; Price, Kobie; Soto, Michael; Curtis, Katherine; McConnell, Kathryn; Castro, Catalina Anampa (2021-10-13)
In this paper, we infuse consideration of migration into research on economic losses from extreme weather disasters. Taking a comparative case study approach and using data from the Federal Reserve Bank of New York/Equifax Consumer Credit Panel, we document the size of economic losses via migration from 23 disaster-affected areas in the United States after the most damaging hurricanes, tornadoes, and wildfires on record. We then employ demographic standardization and decomposition to determine if these losses primarily reflect changes in out-migration or changes in the economic resources that ...
Working Papers , Paper 21-22

Working Paper
Effects of Wildfire Destruction on Migration, Consumer Credit, and Financial Distress
Balch, Jennifer; Fussell, Elizabeth; DeWaard, Jack; Whitaker, Stephan D.; St. Denis, Lise; Price, Kobie; Curtis, Katherine; McConnell, Kathryn (2021-12-27)
The scale of wildfire destruction has grown exponentially in recent years, destroying nearly 25,000 buildings in the United States during 2018 alone. However, there is still limited research exploring how wildfires affect migration patterns and household finances. In this study, we evaluate the effects of wildfire destruction on in-migration and out-migration probability at the Census tract level in the United States from 1999 to 2018. We then shift to the individual level and examine changes in homeownership, consumer credit usage, and financial distress among people whose neighborhood ...
Working Papers , Paper 21-29

Working Paper
Fair weather or foul? the macroeconomic effects of El Niño
Cashin, Paul; Raissi, Mehdi; Mohaddes, Kamiar (2015-05-01)
This paper employs a dynamic multi-country framework to analyze the international macroeconomic transmission of El Nio weather shocks. This framework comprises 21 country/region-specific models, estimated over the period 1979Q2 to 2013Q1, and accounts for not only direct exposures of countries to El Nio shocks but also indirect effects through third-markets. We contribute to the climate-macroeconomy literature by exploiting exogenous variation in El Nio weather events over time, and their impact on different regions cross-sectionally, to causatively identify the effects of El Nio shocks on ...
Globalization Institute Working Papers , Paper 239

Working Paper
Long-Term Macroeconomic Effects of Climate Change: A Cross-Country Analysis
Kahn, Matthew E.; Pesaran, M. Hashem; Raissi, Mehdi; Mohaddes, Kamiar; Yang, Jui-Chung; Engelhardt, Bryan (2019-07-01)
We study the long-term impact of climate change on economic activity across countries, using a stochastic growth model where labor productivity is affected by country-specific climate variables?defined as deviations of temperature and precipitation from their historical norms. Using a panel data set of 174 countries over the years 1960 to 2014, we find that per-capita real output growth is adversely affected by persistent changes in the temperature above or below its historical norm, but we do not obtain any statistically significant effects for changes in precipitation. Our counterfactual ...
Globalization Institute Working Papers , Paper 365

Working Paper
The Growth Effects of El Niño and La Niña: Local Weather Conditions Matter
Couharde, Cécile; Damette, Olivier; Generoso , Rémi; Mohaddes, Kamiar (2019-11-29)
This paper contributes to the climate-economy literature by analyzing the role of weather patterns in influencing the transmission of global climate cycles to economic growth. More specifically, we focus on El Niño Southern Oscillation (ENSO) events and their interactions with local weather conditions, taking into account the heterogeneous and cumulative effects of weather patterns on economic growth and the asymmetry and nonlinearity in the global influence of ENSO on economic activity. Using data on 75 countries over the period 1975-2014, we provide evidence for the negative growth effects ...
Globalization Institute Working Papers , Paper 374

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