Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/149233 
Erscheinungsjahr: 
2016
Schriftenreihe/Nr.: 
IZA Discussion Papers No. 10374
Verlag: 
Institute for the Study of Labor (IZA), Bonn
Zusammenfassung: 
Are coastal cities adjusting to rising sea levels? This paper argues that large-scale events have the potential to ignite the process. We examine the effects of hurricane Sandy on the New York City housing market. We assemble a large plot-level dataset with rich geographic data on housing sales in New York City for the period 2003-2015, along with information on which building structures were damaged by the hurricane, and to what degree. Our difference-in-difference estimates provide robust evidence of a negative impact on the price trajectories of houses that were directly affected by Sandy. Interestingly, this is also the case for houses that were not damaged but face high risk of coastal flooding. Our results suggest that Sandy has increased the perceived risk of living in those neighborhoods. We also show that the negative effects on housing prices appear to be highly persistent.
Schlagwörter: 
climate change
real estate
cities
Hurricane Sandy
JEL: 
H56
K42
R33
Dokumentart: 
Working Paper

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