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Optimal Flood Insurance in a Second-Best World: Fiscal Spillovers, Reclassification Risk and Moral Hazard

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NBER2026-07-01 更新2026-07-15 收录
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Intensifying climate change makes protection against natural disaster risk either through ex ante insurance or ex post aid a first-order public policy issue. Flood risk protection in the U.S. traditionally featured ex post aid through FEMA and heavily subsidized insurance through the National

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2026-07-01
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