Household Finance after a Natural Disaster: The Case of Hurricane Katrina
研究了卡特里娜飓风后洪水对家庭财务的影响，发现受灾最重者信用卡债务和违约率短暂上升，总债务下降，房主用洪水保险还贷而非重建。
Little is known about how affected residents are able to cope with the financial shock of a natural disaster. This paper investigates the impact of flooding on household finance. Spikes in credit card borrowing and overall delinquency rates for the most flooded residents are modest in size and short-lived. Greater flooding results in larger reductions in total debt. Lower debt levels are driven by homeowners using flood insurance to repay their mortgages rather than to rebuild. Mortgage reductions are larger in areas where reconstruction costs exceeded pre-Katrina home values and where mortgages were likely to be originated by nonlocal lenders.