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Working Paper
Extreme Wildfires, Distant Air Pollution, and Household Financial Health
We link detailed wildfire burn, satellite smoke plume, and ground-level pollution data to estimate the effects of extreme wildfire and related smoke and air pollution events on housing and consumer financial outcomes. Findings provide novel evidence of elevated spending, indebtedness, and loan delinquencies among households distant from the burn perimeter but exposed to high levels of wildfire-attributed air pollution. Results also show higher levels of financial distress among renters in the burn zone, particularly those with lower credit scores. Financial distress among homeowners within ...
Working Paper
The Effects of Wildfire and Distant Air Pollution on Household Financial Well-Being
While exposure to wildfire smoke is adverse to human health, little is known about related impacts on household economics. In this paper, we link granular wildfire burn, smoke plume, air pollution, and consumer credit data to estimate the impact of extreme wildfire and related dispersed air pollution effects on consumer financial health. We find material effects including increased credit card and personal loan delinquencies among households distant from the burn perimeter but exposed to high levels of pollution. Further analysis of confidential supervisory data reveals elevated spending and ...