Long-Run Consequences of Exposure to Natural Disasters
利用一战征兵记录和人口普查数据，研究发现美国飓风多发州的白人男性在胎儿期或婴儿期经历飓风后，成年收入降低5%，教育水平和迁移只能解释一小部分影响，而健康资本下降是可能的原因。
We explore whether fetal and postnatal exposure to tropical cyclones affects education and income in adulthood by using World War I draft records linked to census data. Difference-in-differences estimates indicate that white males born in hurricane-prone US states who experienced a hurricane in utero or as infants had 5% lower income. Labor force participation was unaffected, while education and migration account for a small portion of the effects on income. Empirical tests suggest the persistent impact of damage is an unlikely channel. Thus, we attribute the findings to lower health capital stemming from temporary disruption in the aftermath of storms.