Research
Research
Abstract (Online Summary): This paper studies how flood exposure and post-disaster housing-market adjustment vary across the neighborhood income distribution. Using parcel-level data from Harris County, Texas, I combine realized flood depth from Hurricane Harvey with property values, FEMA flood-risk designations, and post-disaster building permits. I document three main patterns. First, flood exposure does not follow a simple income gradient: conditional on flooding, higher-income neighborhoods are disproportionately represented among the most severely inundated areas. Second, FEMA floodplain designations only partially capture realized exposure, with substantial flooding occurring outside mapped high-risk areas. Third, adjustment differs sharply by flood severity and margin. Moderate flooding is associated primarily with declines in building values and repair activity, while severe flooding is accompanied by demolition, ownership turnover, and persistent declines in assessed land values. Together, these findings show that the distributional consequences of climate risk depend on both where households are exposed and how housing markets adjust after extreme events.
(Full draft available upon request.)
Abstract (Online Summary): This paper examines how Korean multinational firms transfer knowledge to their foreign affiliates using a unique firm-level panel dataset from the Export–Import Bank of Korea. It distinguishes between knowledge embodied in intra-firm exports and direct communication through parent-worker secondments over the period 2007–2018. The study shows that trade costs and the parent firm’s knowledge intensity shape intra-firm exports, and that higher knowledge intensity can sustain knowledge transfer even when trade costs rise.