When Disaster Strikes: How Climate Events Influence Employment Preferences
HKUST IEMS Thought Leadership Brief No. 112
SHARE THIS
As extreme climate events, including wildfires, heatwaves, floods, and hurricanes, become more frequent and severe, their economic impact is often quantified through the lens of physical destruction. Table 1 summarizes the total amount of damage and frequency of 13 types of climate disasters in the U.S. between July 2009 and December 2022. Economists typically measure the cost of these disasters in terms of damaged infrastructure, disrupted supply chains, and lost agricultural productivity. However, an important and less visible consequence is the way these events alter worker preferences and labor market behavior.
The Traditional Chinese version is available here.
About the author
Yue Zheng is currently an Associate Professor of Accounting at the Hong Kong University of Science and Technology (HKUST). Professor Zheng earned her Ph.D. in Accounting from the University of Maryland in 2017.
Professor Zheng’s research focuses on financial reporting, capital markets, and the role of human capital in accounting and economic activities, with publications in leading journals such as The Accounting Review, Contemporary Accounting Research, Review of Accounting Studies, Strategic Management Journal, and Journal of Financial and Quantitative Analysis.
Allen Huang is Professor and Head of the Department of Accounting and Associate Director of the Center for Business and Social Analytics at the Hong Kong University of Science and Technology (HKUST). He received his Ph.D. from Duke University in 2007.
Professor Huang’s research focuses on machine learning, large language models, securities litigation, and financial analysts. His work has been published in leading journals, including the Journal of Accounting Research, Journal of Accounting and Economics, The Accounting Review, Journal of Finance, Review of Accounting Studies, Contemporary Accounting Research, Management Science, and the Journal of Financial and Quantitative Analysis.
Professor Huang currently serves as an Associate Editor of the Journal of Financial and Quantitative Analysis and as an Editor of the Journal of Business Finance & Accounting. He also serves on the Editorial Board of The Accounting Review and Contemporary Accounting Research, and on the Associate Editor Board of Review of Accounting Studies.
Get updates from HKUST IEMS
