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Sea Level Rise and Urban Adaptation in Jakarta
Sea level rise poses an existential threat to Jakarta, which faces frequent and worsening flooding. The government has responded with a proposed sea wall. In this setting, I study how government intervention complicates long-run adaptation by creating coastal moral hazard. I quantify this force with a dynamic spatial model in which developers and residents act with flood risk in mind. I find that moral hazard generates severe lock-in and limits migration inland, even over the long run. Inland incentive policies reduce this friction.
Date:
25 October 2023, 12:30
Venue:
Manor Road Building, Manor Road OX1 3UQ
Venue Details:
Lecture Theatre
Speaker:
Allan Hsiao (Princeton University)
Organising department:
Department of Economics
Organisers:
Alison Andrew (University of Oxford),
Dennis Egger (University of Oxford),
Niclas Moneke (University of Oxford)
Organiser contact email address:
suzanne.george@economics.ox.ac.uk
Part of:
CSAE Lunchtime Seminars
Booking required?:
Not required
Audience:
Public
Editors:
Suzanne George,
Fiona Morsia,
Claire Goode
