Living on shaky ground: how earthquake risk shapes mortgage decisions
基于中国抵押贷款调查数据，研究九寨沟地震后，居住在高抗震设防城市且关注度更高的借款人更倾向选择等额还款和低首付收入比的贷款，同时更可能策略性违约，且较少从高风险的城市商业银行借款。
This paper examines mortgage decision responses to the Jiuzhaigou Earthquake. Our difference-in-difference-in-differences specification investigates the variation of potential risk, attention and time. Based on the comprehensive data from the China Mortgage Survey, we find that mortgage applicants living in cities with higher seismic fortification and more intensive attention tend to be more likely to choose mortgages with equal loan payments and lower down payment to income ratio. Meanwhile, they are more likely to default strategically while less likely to borrow from city commercial banks with higher risk.