Weather-Related Home Damage and Subjective Well-Being

Abstract

AbstractClimate change is causing weather-related natural disasters to become both more frequent and more severe. We contribute to the literature on the economic impact of these disasters by using Australian data for the period 2009 to 2019 to estimate the effect of experiencing weather-related home damage on three measures of subjective well-being. Overall, we find little evidence of a statistically significant or sizable negative effect, on average, of weather-related home damage on subjective well-being.