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Cities and the Sea Level

Author

Listed:
  • Michaels, Guy
  • Lin, Yatang
  • McDermott, Thomas

Abstract

Construction on low elevation coastal zones is risky for both residents and taxpayers who bail them out, especially when sea levels are rising. We study this construction using spatially disaggregated data on the US Atlantic and Gulf coasts. We document nine stylized facts, including a sizeable rise in the share of coastal housing built on flood-prone land from 1990-2010, which concentrated particularly in densely populated areas. To explain our findings, we develop a model of a monocentric coastal city, which we then use to explore the consequences of sea level rise and government policies.

Suggested Citation

  • Michaels, Guy & Lin, Yatang & McDermott, Thomas, 2021. "Cities and the Sea Level," CEPR Discussion Papers 16004, C.E.P.R. Discussion Papers.
    • Handle: RePEc:cpr:ceprdp:16004
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    2. Lawrence Vorvornator, 2025. "Exploring Global Warming Impact on the Economy: The Nexus of Global Warming and the Economy in Perspective," Journal of Social and Development Sciences, AMH International, vol. 15(1), pages 14-23.
    3. Nicola Garbarino, 2025. "Concrete Adaptation under Extreme Precipitation," ifo Working Paper Series 419, ifo Institute - Leibniz Institute for Economic Research at the University of Munich.
    4. Tom Gillespie & Ronan C. Lyons & Thomas K. J. McDermott, 2025. "Estimating the Flood Risk Discount: Evidence From a One-off National Information Shock," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 88(5), pages 1195-1212, May.
    5. Jedwab, Remi & Haslop, Federico & Zarate, Roman David & Rodriguez Castelan, Carlos, 2023. "The Effects of Climate Change in the Poorest Countries: Evidence from the Permanent Shrinking of Lake Chad," IZA Discussion Papers 16396, Institute of Labor Economics (IZA).
    6. Lehr, Jakob & Rehdanz, Katrin, 2024. "The effect of temperature on energy related CO2 emissions and economic performance in German industry," Energy Economics, Elsevier, vol. 138(C).
    7. Agarwal, Sumit & Qin, Yu & Sing, Tien Foo & Zhan, Changwei, 2025. "Sea level rise risks, adaptation strategies, and real estate prices in Singapore," Journal of Public Economics, Elsevier, vol. 241(C).
    8. Klaus W. Deininger & Thea Hilhorst & Zevenbergen,Jaap & Nkurunziza,Emmanuel, 2025. "Capitalizing on Digital Transformation to Enhance the Effectiveness of Property Institutions : Conceptual Background and Evidence from 85 Countries," Policy Research Working Paper Series 11100, The World Bank.
    9. Jacopo Ponticelli & Qiping Xu & Stefan Zeume, 2023. "Temperature and Local Industry Concentration," Working Papers 23-51, Center for Economic Studies, U.S. Census Bureau.

    More about this item

    Keywords

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    JEL classification:

    • R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes
    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming
    • R14 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Land Use Patterns

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