Are Building Codes an Effective Adaptation to Wind Risk? Evidence from Remotely Detected Blue Tarps
中文摘要
飓风会造成严重的风灾与水灾损失，但受数据限制，经济学研究主要关注后者。我们通过分析2017年飓风“艾尔玛”过后拍摄的照片，识别覆盖蓝色防水布的住宅，从而克服这一问题。采用断点回归框架，我们发现2001年《佛罗里达州建筑规范》影响了超过50万名房主所面临的风灾风险。采用该规范的房主遭受风灾损失的可能性降低了22%，损失严重程度下降了27%。尚未修复的房产售价也降低了13.3%（29,400美元），且更难售出，这凸显了建筑规范在降低风险、促进气候变化适应方面的重要性。（JEL Q54, R31, R38）
Abstract
Hurricanes cause significant wind and water damage, yet economic research primarily focuses on the latter due to data limitations. We overcome this problem by analyzing photographs taken after Hurricane Irma (2017) to locate blue-tarped homes. Using a regression discontinuity framework, we find the 2001 Florida Building Code impacted wind risk for over 500,000 homeowners. Adopters were 22 percent less likely to experience wind damage and saw a 27 percent reduction in damage severity. Unrepaired properties also sold for 13.3 percent ($29,400) less and were harder to sell, underscoring the importance of building codes in mitigating risk and promoting climate change adaptation. (JEL Q54, R31, R38)