As the world’s attention becomes distracted by wars and unrest, climate risks, chiefly due to flood and fire, loom. How will these risks affect households? And how can households prepare in advance? When it comes to flooding, companies are distributing advice on the details of flood preparedness, and many municipalities subsidize flood mitigation programs. Economists, however, are interested in the bigger picture: What are the macroeconomic implications of climate change and adaptation on housing in general? “Physical risks directly impact house prices and lending and insurance decisions,” said Yasmine van der Straten, Assistant Professor in Finance at Nova School of Business and […]