A Flood of Construction: The Role of Levees in Urban Floodplain Development
研究发现新建堤坝使受保护区域的住宅开发速度提高50%以上，且该效应持续数十年但随时间减弱，提示防洪投资可能被新增开发部分抵消。
We estimate the effect of leveerelated flood-risk reduction on rates of new housing development. Using a fixedeffect Poisson regression and a nonlinear difference-in-differences identification strategy, we find that newly constructed levees increased the rate of residential development by more than 50% compared with areas without levee protection. Contemporary analysis using a duration model indicates effects lasting decades later, with the magnitude of the induced development attenuating over time. Our findings inform discussion of the "levee effect" and highlight the possibility that further flood-risk reduction investment in levees may be partially offset through increased development activity. (