자료유형  

 학위논문

Control Number  

0017164445

International Standard Book Number  

9798346379171

Dewey Decimal Classification Number  

658.81

Main Entry-Personal Name  

Ren, Yongwang.

Publication, Distribution, etc. (Imprint  

[S.l.] : The Pennsylvania State University., 2024

Publication, Distribution, etc. (Imprint  

Ann Arbor : ProQuest Dissertations & Theses, 2024

Physical Description  

140 p.

General Note  

Source: Dissertations Abstracts International, Volume: 86-05, Section: B.

General Note  

Advisor: Brent, Daniel A.

Dissertation Note  

Thesis (Ph.D.)--The Pennsylvania State University, 2024.

Summary, Etc.  

요약Flooding has been a global problem, causing death, loss of crops, and damage to buildings. It also becomes more frequent and intense due to climate change. Flooding is one of the costliest natural disasters in the U.S.. To combat this threat and protect lives and economy, the National Flood Insurance Program (NFIP) is established and provides households an option to purchase flood insurance and reduce potential flood damage. The Community Rating System (CRS) is established later to support the NFIP, as well as encourage higher standards and better floodplain management of communities. This dissertation is consist of three essays related to flood risk and the CRS program. It attempts to evaluate and provide better understanding about the CRS program, and property market responses to flood risk after a major hurricane.The first essay examines the distribution of the cross subsidies caused by the CRS that increase premiums in non-CRS communities. Results show that redistribution does occur, but the gains and losses are not economically large with 95% of households gaining or losing no more than 0.3% of household income. We also examine their relationship with other community characteristics and find that the strongest predictor of premium reductions is the underlying flood risk level within the community. Thus, CRS appears to reduce the cost of living in the riskier communities.The second essay explores the spillover effect of the CRS: whether non-CRS communities that near CRS communities also experience less flood damage and possible mechanism of this spillover effect, as well as the potential mechanism of this spillover effect. Results indicate non-significant average treatment effect, but there is a lagged, short-term spillover effect. For non-CRS communities, having a CRS neighbor leads to about $0.5 million reduction in annual flood damage a few years after the treatment. This impact is possibly because of community's learning from their CRS neighbors by investing more on flood risk mitigation activities.The third essay investigates the relationship between flood risk and housing supply, and the impact of controlling housing supply when estimating hedonic price models. We utilize the housing transaction data in Harris County, Texas right before and after the Hurricane Harvey, as well as the detailed damage assessment data by FEMA to examine how the housing market respond to extreme events. We find that: (1) Houses in SFHA are more likely to be sold after hurricane Harvey (2) After controlling housing supply factors, we find about 0.5% price drop of houses in SFHA (3) These results are consistent with the explanation that households revise their perceived flood risk right after recent hurricane event and associated house damages.

Subject Added Entry-Topical Term  

Discounts.

Subject Added Entry-Topical Term  

Censuses.

Subject Added Entry-Topical Term  

Hurricanes.

Subject Added Entry-Topical Term  

Government sponsored enterprises.

Subject Added Entry-Topical Term  

Floodplains.

Subject Added Entry-Topical Term  

Demographics.

Subject Added Entry-Topical Term  

Flood damage.

Subject Added Entry-Topical Term  

Federal government.

Subject Added Entry-Topical Term  

Disaster relief.

Subject Added Entry-Topical Term  

Disasters.

Subject Added Entry-Topical Term  

Family income.

Subject Added Entry-Topical Term  

Storm damage.

Subject Added Entry-Topical Term  

Households.

Subject Added Entry-Topical Term  

Demography.

Subject Added Entry-Topical Term  

Home economics.

Subject Added Entry-Topical Term  

Meteorology.

Subject Added Entry-Topical Term  

Political science.

Subject Added Entry-Topical Term  

Public administration.

Added Entry-Corporate Name  

The Pennsylvania State University.

Host Item Entry  

Dissertations Abstracts International. 86-05B.

Electronic Location and Access  

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Control Number  

joongbu:654013