Physical climate risks can have a large regional impact, which can influence mortgage loans' credit risk and should be priced by the lenders. Motivated by the relevance of climate change for financial intermediaries, our paper aims at analysing if physical climate risks are being reflected in...

In July 2021, severe floods devastated parts of Germany, causing numerous casualties and extensive damage to property and infrastructure. As climate change is expected to increase the frequency and severity of such extreme weather events, understanding their social implications is crucial. Using...

We analyse optimal investment in one of the most important forms of climate adaptation: flood protection. Investments to build and heighten dykes and surge barriers involve considerable adjustment costs, so that their construction locks in the level of flood protection for some time. Investment...

Natural disasters can cause substantial damage to public and private sector infrastructure capital, generating macroeconomic losses through complex channels. These shocks must be managed and accounted for with macrofiscal and monetary policy to minimize their welfare impacts. To support this...

In December 2023 and January 2024 extensive flooding occurred in Northern Germany in the Ems, Weser and Elbe catchments. The European Flood Awareness System (EFAS) of the Copernicus Emergency Management Service (CEMS) aims to inform the authorities of possible upcoming floods. This report...

This study provides evidence that natural disasters negatively affect student outcomes, potentially explaining the lower academic achievement of students in rural areas compared to their urban counterparts in developing countries. Using data from the Colombian school census, I estimate a...

This Technical Report presents the results of the annual product and service quality assessment of the Global Flood Monitoring (GFM) product of the Copernicus Emergency Management Service (CEMS), which was performed on a quarterly basis during 2023. This report is the second of its kind: the...

While a growing number of international and EU institutions, businesses and government bodies recognise the importance of nature-based solutions (NBS), Member States continue to face difficulties in developing and using cost-benefit analysis (CBA) and other forms of economic appraisal to justify...

The objective of the RDNA is to estimate the impact of the storm and floods on physical assets and service delivery in the most affected areas and take stock of the ensuing recovery needs. The RDNA covers 20 municipalities and provides indepth analysis of the five most affected cities (Derna,...

Using unique nationwide property-level mortgage, flood risk, and flood map data, we analyze whether lenders respond to flood risk that is not captured in FEMA flood maps. We find that lenders are less willing to originate mortgages and charge higher rates for lower LTV loans that face...

Climate change is among the biggest challenges of our time. Climate impacts and socioeconomic vulnerability are spatially heterogeneous. Hence, adaptation policies are more effective when designed at lower administrative levels. However, spatially-detailed social vulnerability profiles are often...

Background: In the context of humanitarian logistics, efficiently evacuating people from disaster-stricken areas is a complex challenge. This study focuses on the Tula River region in Hidalgo, Mexico, exploring the evacuation and support of individuals in temporary shelters. Despite the fact...

Many studies have investigated flood risk and insurance coverage in the 100-year flood zone, but much less is known about the periphery of the flood zone. We present a new approach to estimate flood risk and insurance take-up in the vicinity of the flood zone based on building-level inundation...

We present a theory of the demand for flood insurance and empirically analyze the effects of the adoption of Risk Rating 2.0, using individual insurance histories for all NFIP policies. The reform increased exit and reduced entry, both in the flood zone and its periphery. The reform had highly...

The study provides forward-looking estimates for economic damages from floods and tropical cyclones (TC) for a wide range of countries using global datasets. Damages are estimated for three Intergovernmental Panel on Climate Change (IPCC) scenarios and aggregated at the country level, building...

We investigate how the frequent flooding that damaged the internal transport infrastructure in late 19th and early 20th colonial Jamaica affected local economies. To this end the evolution of the road and railways transport system was geo-referenced and combined with geo-localized damaging flood...

Demographic crises and famines were recurring phenomena in China before the mid-20th century, with the Great Leap Forward Famine of 1959-61 often regarded as the last and one of the most severe in Chinese History. This article delves into the repercussions of the Great Flood of 1975 in Henan...

Floods are among the most frequent and destructive natural hazards worldwide, yet their economic impacts remain poorly understood. This paper examines the effects of two cyclone-induced floods on firms’ economic performance in New Zealand. To identify flood damage, we propose a novel method...

This paper investigates the relationship between extreme weather conditions and the risk of flooding-induced harvest failure in Nigerian agriculture using a probit model. I use household-level survey and gridded weather data to exploit weather variation across time and space. Risk of harvest...

Rapid urbanization and climate change require a thorough understanding of flood vulnerability in order to assure urban safety and resilience. Understanding the factors that contribute to flood vulnerability, allows us to develop effective initiatives that could mitigate the destructive...