第647期岭南学术论坛（金融学系列Seminar）
Do Households Respond to Climate Change? Evidence from the U.S. Homeowners Insurance Market
语 言 中文+英文
讲座介绍：
This paper is coauthored with Professor Hong Zou (University of Hong Kong) and Professor Tyler Leverty (University of Wisconsin - Madison). We examine whether and to what extent people’s beliefs regarding climate change affect their financial decisions through the lens of homeowners insurance. We document a positive relationship between survey-based U.S. risk perception of climate change and average homeowners insurance coverage per house in a state. The relationship is stronger in states with stronger political orientation towards the Democratic Party. In a placebo test, we find that risk perception of climate change does not affect renters’ insurance demand, indicating that U.S. households only respond to climate change when they perceive such change likely affecting their houses as the most valuable asset. The results are robust to an instrumental variable estimation using a state-level drought severity index as an instrument. Our findings have important implications for how climate change affects U.S. households’ risk management decisions.
报告人简介：
孙涛，香港岭南大学商学院金融保险系副教授，美国天普大学（Temple University）博士。孙涛副教授的研究方向为保险经济学，系统性风险与金融系统稳定，长寿与死亡风险管理，保险与金融企业公司金融方面的实证研究，并于2022年获得香港大学资助委员会研究项目资助。孙涛副教授的研究广泛发表在 Journal of Risk and Insurance, Insurance: Mathematics and Economics, Risk Management and Insurance Review, Geneva Papers on Risk and Insurance: Issues and Practices 等保险领域的著名期刊。
个人主页：https://www.ln.edu.hk/fin_ins/taosun.php
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中山大学岭南学术论坛分经济学和金融学两大系列，是定期邀请国内外优秀学者前来开展学术交流的平台。每系列每个月定期举办2-3次。目前已经成功举办多期，并得到了各界的高度评价。