Adverse Selection and Climate Risk: A Response to
指出Ouazad和Kahn（2022）研究中的两个问题，修正后原结论被推翻，没有证据表明贷款机构通过改变贷款发放和证券化行为来转移气候风险。
Abstract We identify two issues in the work of Ouazad and Kahn (2022). Correcting either reverses the original result. The two changes are to use the correct FHFA conforming loan limits for each county and year and to compare the individual loan amount to that limit correctly. There is no evidence that lenders transfer climate risk by altering loan origination and securitization behavior. None of our results calls into question the value and importance of the O&K model as a test for adverse selection. The question addressed and the setup of the test are important and should be replicated over time.