Let the Rich Be Flooded: The Unequal Impact of Hurricane Harvey on Household Debt
Let the Rich Be Flooded: The Unequal Impact of Hurricane Harvey on Household Debt
复制标题
让富人被淹没：飓风哈维对家庭债务的不平等影响
DOI：
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发表时间：
2019
期刊：
影响因子：
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通讯作者：
Lowell R. Ricketts
中科院分区：
文献类型：
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作者：
Stephen B. Billings;Emily Gallagher;Emily Gallagher;Lowell R. Ricketts
2017年8月，飓风哈维淹没了休斯顿超过25%的地区。使用治疗强度差异设计的消费者信贷数据，我们发现，平均治疗效果的洪水掩盖了大量的异质性，由最初的财务状况和住房拥有状况。负面的财务结果集中在进入飓风的房主中，他们的财务状况较弱。例如，在财政拮据的业主自住地区，哈维之后洪水严重地区的平均破产率比没有洪水的类似地区高出0.7个百分点（或28%）。位于洪泛区，因此有更高的洪水保险可能性，在很大程度上减轻了这些负面影响。使用个人FEMA注册和SBA贷款数据，我们提出的证据表明，我们的研究结果可以解释，在一定程度上，在获得联邦灾害援助和贷款的严重不平等。
Hurricane Harvey submerged over 25% of Houston in August 2017. Using a treatment intensity difference-in-difference design on consumer credit data, we find that average treatment effects of flooding mask substantial heterogeneity by initial financial well-being and homeownership status. Negative financial outcomes are concentrated among homeowners who entered the hurricane in a weaker financial position. For example, within financially constrained, owner-occupied areas, the average bankruptcy rate was 0.7 percentage points (or 28%) higher in heavily flooded areas after Harvey than in similar areas that did not flood. Being in a floodplain and, hence, having a higher likelihood of flood insurance, largely mitigates these negative effects. Using individual FEMA registrant and SBA loan data, we present evidence that our results may be explained, in part, by severe inequalities in access to federal disaster assistance and loans.