Arbeitspapier
How bad are weather disasters for banks?
Not very. We find that weather disasters over the last quarter century had insignificant or small effects on U.S. banks' performance. This stability seems endogenous rather than a mere reflection of federal aid. Disasters increase loan demand, which offsets losses and actually boosts profits at larger banks. Local banks tend to avoid mortgage lending where floods are more common than official flood maps would predict, suggesting that local knowledge may also mitigate disaster impacts.
- Sprache
-
Englisch
- Erschienen in
-
Series: Staff Report ; No. 990
- Klassifikation
-
Wirtschaft
Banks; Depository Institutions; Micro Finance Institutions; Mortgages
Disaster Aid
- Thema
-
hurricanes
wildfires
floods
climate change
weather disasters
FEMA
banks
financial stability
local knowledge
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Blickle, Kristian
Hamerling, Sarah N.
Morgan, Donald P.
- Ereignis
-
Veröffentlichung
- (wer)
-
Federal Reserve Bank of New York
- (wo)
-
New York, NY
- (wann)
-
2021
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:45 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Blickle, Kristian
- Hamerling, Sarah N.
- Morgan, Donald P.
- Federal Reserve Bank of New York
Entstanden
- 2021
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