@TechReport{iza:izadps:dp9026,
            	author={Berlemann, Michael and Steinhardt, Max F. and Tutt, Jascha},
            	title={Do Natural Disasters Stimulate Individual Saving? Evidence from a Natural Experiment in a Highly Developed Country},
            	year={2015},
	month={Apr},
            	institution={Institute of Labor Economics (IZA)},
            	address={Bonn},
            	type={IZA Discussion Paper},
            	number={9026},
            	url={https://www.iza.org/index.php/publications/dp9026},
	abstract={While various empirical studies have found negative growth-effects of natural disasters, little is yet known about the microeconomic channels through which disasters might affect short- and especially long-term growth. This paper contributes to filling this gap in the literature by studying how natural disasters affect individual saving decisions. This study makes use of a natural experiment created by the European Flood of August 2002. Using micro data from the German Socio-Economic Panel that we combine with geographic flood data, we compare the savings behavior of affected and non-affected individuals by using a difference-in-differences approach. Our empirical results indicate that natural disasters depress individual saving decisions, which might be the consequence of a Samaritan's Dilemma.},
	keywords={natural disasters;floods;growth;saving behavior;difference-in-differences approach},
            }