Using the government-sponsored enterprises' sharp securitization rules, this paper provides
evidence that, in the aftermath of natural disasters, lenders are more likely to approve …

With increasing natural disaster risk and declining flood insurance take-up, homeowners in
coastal areas may be at increasing risk of mortgage default. Banks have the ability to screen …

We investigate how corporate loan costs are affected by climate change-related natural
disasters. We construct granular measures of borrowers' exposure to natural disasters and …

We show that lenders charge higher interest rates for mortgages on properties exposed to a
greater risk of sea level rise (SLR). This SLR premium is not evident in short-term loans and …

We survey the growing literature on the interaction between climate change, which is likely
associated with a growing intensity and frequency of natural disasters, and the financial …

Policymakers have put forward proposals to ensure that banks do not underestimate long-
term risks from climate change. To examine how lenders account for extreme weather, we …

We examine whether beliefs about climate change affect loan officers' mortgage lending
decisions. We show that abnormally high local temperature leads to elevated attention to …

This article provides the theoretical foundation for the concept of “Underwaterwriting,” which
can be understood as various informational and institutional limitations related to …

This article analyzes the drivers and implications of catastrophe bonds' growing popularity
as an alternative asset class. As investor demand for bonds outpaces their supply from …

We provide a model of the effects of catastrophic risk on real estate financing and prices and
demonstrate that insurance market imperfections can restrict the supply of credit for …