Anmerkungen:
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments February 23, 2023 erstellt
Beschreibung:
This study provides an original measure of how much of the new mortgage and small business lending is extended in areas with substantial risk of inundation. I find that since 2000 lenders have increased the share of small business and mortgage loans in census tracts with extended flood zones. This is associated with lower and more volatile returns, particularly for small business lending. I find that not all lending originated in the flood zone can lead to worse performance. Banks that have an advantage in small business lending can navigate the risk from lending in such areas and avoid the losses