Environmental Disasters and Property Values: Evidence from Nepal’s Forest Fires
利用卫星实时火灾数据，发现尼泊尔森林火灾导致房产价值下降，上月火灾辐射功率每增加一个单位，住宅价值下降0.61%；过去一年火灾次数每增加一次，价值下降4.48%。
This article uses satellite data on real-time active fire locations to evaluate the effect of forest fires on property values in Nepal. Results show that an additional unit increase in fire radiative power from last month’s forest fires causes a 0.61% decrease in residential property values. Property values decline by 4.48% for every additional unit increase in the number of forest fire incidents over the past year. These estimates suggest that policy makers should prioritize wildfire-risk awareness and fire-prevention programs in areas with higher levels of declined property values associated with recurring forest fire incidents.