主题：High Temperature, Climate Change, and Mortgage Performance
主讲人：李腾 中山大学
主持人：陈英楠 BETVLCTOR伟德官网下载
时间：2023年5月18日（周四）下午14:30
地点：BETVLCTOR伟德官网下载石牌校区伟德BETVlCTOR1946大楼（中惠楼）102室
摘要
We investigate the relationship between extreme temperature and residential mortgage default and prepayment outcomes using fine-scale weather and comprehensive loan performance data. We identify a significant high temperature-mortgage termination relation. Counties that are at high risk of sea-level rise display significantly higher rates of permanent default and prepayment in response to doses of high-temperature. Relocation test shows a higher out-migration rate for the prepaying homeowners who are treated with high-temperature. Altogether the evidence favors adaptive response to high-temperature that magnifies concern over climate change. We also provide evidence of homeowner overreaction and impulsive responses that result in temporary default. Our findings have direct monetary and bank regulatory policy implications.
主讲人简介
李腾，中山大学国际金融学院副教授，中山大学“百人计划”引进人才、“逸仙学者”。李腾副教授重点研究劳动金融学和环境经济学。研究发表于Journal of Financial Economics, Journal of Urban Economics, Organizational Behavior and Human Decision Processes, Journal of Environmental Economics and Management, Regional Science and Urban Economics，《经济研究》、《管理世界》、《经济学（季刊）》和《世界经济》等国内外高水平期刊。作为负责人主持国家自然科学基金青年项目。研究成果获中国留美经济学年会邹至庄最佳论文奖，被学术媒体VoxEU报道，并得到省部级领导批示。
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校对|林智韬
责编|麦嘉杰
初审|黄振
审核|郑贤
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