00000nam 2200000zi 4500 9.921956 CaOODSP 20230425151440 m o d f cr |n||||||||| 230425t20232023oncd ob f|0| 0 eng d CaOODSP eng rda CaOODSP eng eng fre n-cn--- FB3-5/2023-15E-PDF Ho, Anson T. Y., author. We didn't start the fire : effects of a natural disaster on consumers' financial distress / by Anson T. Y. Ho, Kim P. Huynh, David T. Jacho-Chávez and Geneviève Vallée. [Ottawa] : Bank of Canada = Banque du Canada, 2023. ©2023 1 online resource (ii, 34 pages) : charts. text txt rdacontent computer c rdamedia online resource cr rdacarrier Staff working paper = Document de travail du personnel, 1701-9397 ; 2023-15 "Last updated: February 28, 2023." Includes bibliographical references (pages 20-26). "Global climate change is increasing the frequency and severity of natural disasters. We use detailed consumer credit data to investigate the impact of the 2016 Fort McMurray wildfire, the costliest wildfire disaster in Canadian history, on consumers’ financial stress. We focus on the arrears of insured mortgages because of their important implications for financial institutions and insurers’ business risk and relevant management practices. Our findings suggest that wildfires have caused more mortgage arrears in severely damaged areas, with both economic and statistical significance. For other areas with relatively minor damage, the increase in arrears is small and statistically insignificant"--Abstract. Includes abstract in French. Climatic changes Economic aspects Canada. Natural disasters Economic aspects Canada. Mortgages Canada. Climat Changements Aspect économique Canada. Catastrophes naturelles Aspect économique Canada. Hypothèques Canada. Bank of Canada, issuing body. Staff working paper (Bank of Canada) 2023-15. (CaOODSP)9.806221 PDF 3.24 MB https://publications.gc.ca/collections/collection_2023/banque-bank-canada/FB3-5-2023-15-eng.pdf