Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/333237 
Year of Publication: 
2025
Citation: 
[Journal:] Economics of Disasters and Climate Change [ISSN:] 2511-1299 [Volume:] 10 [Issue:] 1 [Article No.:] 2 [Publisher:] Springer International Publishing [Place:] Cham [Year:] 2025
Publisher: 
Springer International Publishing, Cham
Abstract: 
Abstract Recently, there is a growing interest in understanding how individuals adapt to changing climate conditions and climate-induced extreme weather events. An underexplored question is whether and how climate-related natural hazards affect household saving behavior. For this purpose, we exploit a natural experiment stemming from the European Flood of August 2002. Combining micro data with geo-coded flood maps allows us to analyze the causal impact of flood exposure on household savings within a difference-in-differences setting. We find that flood exposure depresses household saving behavior in the medium run. A likely explanation is moral hazard induced by massive government support for affected households.
Subjects: 
Natural disasters
Flood
Saving behavior
Natural experiment
Persistent Identifier of the first edition: 
Creative Commons License: 
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Document Type: 
Article
Document Version: 
Published Version
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