Noreen Clancy

Creating the Right Incentives for State and Local Governments to Reduce Disaster Costs

In the United States, federal, state, and local governments share responsibility for paying for losses from disasters. As the frequency and severity of disasters has increased, so have the losses. It's worth considering whether the current risk-sharing approach is appropriate.

Why Houstonians Didn't Buy Flood Insurance

Thousands of Houston-area homeowners will face massive, uninsured losses due to flood damage. Few homeowners buy flood insurance unless they are required to, and it's only mandatory for homes with mortgages located in FEMA-defined high-risk flood zones. People tend to ignore low-probability risks.

Global Methane Initiative: Converting Harmful Emissions to Usable Energy

Carbon dioxide has garnered the most attention in the climate change debate because it accounts for the bulk of greenhouse gas emissions. But there is good reason to worry about methane, say Nicholas Burger and Noreen Clancy.

Report

Disruptive Money: Exploring the Future of Corporate Cryptocurrency

Researchers considered a future in which corporate cryptocurrency (crypto) is in widespread use and asked experts to identify strategic approaches to evolving technological and economic trends underpinning this potential future.

Report

How Do We Know Whether Federal Disaster Programs Are Equitable? An Initial Methodology for Evaluating Social Equity Performance of the Building Resilient Infrastructure and Communities Mitigation Grant Program

This report presents an initial methodology for how the Building Resilient Infrastructure and Communities grant program can assess its social equity performance.

Report

One- to Four-Family Properties with Multiple Losses Insured by the National Flood Insurance Program: Property Characteristics, Community Demographics, and Mitigation Strategies

This report examines properties with multiple losses insured by the National Flood Insurance Program and the communities in which they are located to help inform decisionmaking relevant to floodplain management, flood insurance, and mitigation.

Report

An Initial Methodology for Evaluating Social Equity Performance in Disaster Mitigation Grants: The Building Resilient Infrastructure and Communities Program

The authors explore how the Building Resilient Infrastructure and Communities grant program addresses the greatest natural hazard risks for mitigation (predisaster actions to reduce damage and ease recovery) while also integrating social equity factors.

Report

The Cost of Cost-Effectiveness: Expanding Equity in Federal Emergency Management Agency Hazard Mitigation Assistance Grants

Researchers offer ways the Federal Emergency Management Agency could simplify or amend the required benefit–cost analysis process in applications for hazard mitigation assistance to be more inclusive of lower-resourced communities.

Journal Article

Efforts to End a Stalemate in Landslide Insurance Availability Through Inclusive Policymaking: A Case Study in Sitka, Alaska

We explored how participatory techniques could overcome one disaster risk financing-related stalemate: the case of landslide insurance in a highly landslide-prone location, Sitka, Alaska.

Report

The Building Resilient Infrastructure and Communities Mitigation Grant Program: Incorporating Hazard Risk and Social Equity into Decisionmaking Processes

The federal Building Resilient Infrastructure and Communities (BRIC) program can help develop community resilience through mitigation activities that emphasize equity goals alongside reduction of risk to physical assets, as described in this report.

Report

Insuring Public Buildings, Contents, Vehicles, and Equipment Against Disasters: Current Practices of State and Local Government and Options for Closing the Insurance Gap

For this report, researchers examined state and local financial risk management practices, the role that the Federal Emergency Management Agency's Public Assistance program plays in these practices, and options for closing the insurance gap.

Report

Modernizing Puerto Rico's Housing Sector Following Hurricanes Irma and Maria: Post-Storm Challenges and Potential Courses of Action

Puerto Rico's housing sector needs a big fix. Through a careful analysis of housing damage caused by the 2017 hurricanes, the authors make informed recovery recommendations for policymakers so they can repair and rebuild safe and affordable housing.

Journal Article

Advancing Community Resilience Research and Practice: Moving from "Me" to "We" to "3d"

In this article, we provide a rationale for moving research and practice towards an adaptive systems framework, drawing on the cascading challenges that Gulf of Mexico coastal communities have endured since the 2010 Deepwater Horizon (DWH) oil spill disaster.

Journal Article

Persistent Risk-Related Worry as a Function of Recalled Exposure to the Deepwater Horizon Oil Spill and Prior Trauma

This study examined the nature and predictors of worry about ongoing impacts of the 2010 Deepwater Horizon (DH) oil spill reported by Gulf of Mexico coastal residents.

Report

Building Community Resilience to Large Oil Spills: Findings and Recommendations from a Synthesis of Research on the Mental Health, Economic, and Community Distress Associated with the Deepwater Horizon Oil Spill

In this report, the authors explore how communities, government officials, nongovernmental organizations, businesses, and scientists can build community resilience to large oil spills.

Journal Article

Reasonable and Risk-Based? Replacing NFIP Generally Subsidized Rates with a Means-Tested Subsidy

Our results suggest that the savings associated with replacing subsidies with our proposed means-tested subsidy would be $183 million per year if all households in the study area hold NFIP policies, or a savings of approximately $3800 per policy.

Report

The Cost and Affordability of Flood Insurance in New York City: Economic Impacts of Rising Premiums and Policy Options for One- to Four-Family Homes

This report examines flood insurance cost in New York City and homeowners' ability to afford it. It develops and evaluates several different approaches for assisting households that have difficulty affording flood insurance.

Research Brief

How Affordable Is Flood Insurance in New York City and What Can Be Done to Address Affordability Issues?

This research brief examines the affordability of flood insurance in New York City and what can be done to address the affordability issue.

Report

Development of a K–12 Financial Education Curriculum Assessment Rubric

RAND researchers document the current state of the literature and advance a set of criteria for assessing the content, utility, quality, and efficacy of K-12 financial education curricula.

Tool

A Tool for Reviewing K–12 Financial Education Curricula

To help educators think about which curriculum to use, and to better understand the strengths and gaps in the curriculum currently being used, the RAND Corporation developed this tool for reviewing financial education curricula.

Report

The Hurricane Sandy Rebuilding Task Force's Infrastructure Resilience Guidelines: An Initial Assessment of Implementation by Federal Agencies

RAND researchers assessed federal agencies' implementation of the Infrastructure Resilience Guidelines, written by the Presidential Hurricane Sandy Rebuilding Task Force to ensure key principles of resilience when investing appropriated funds.

Report

The Impact on Federal Spending of Allowing the Terrorism Risk Insurance Act to Expire

Examines whether federal spending would increase or decrease if the Terrorism Risk Insurance Act were allowed to expire.

Report

Flood Insurance in New York City Following Hurricane Sandy

This report examines dimensions of the changing flood insurance environment in New York City and explores the consequences for the city's residents and businesses.

Research Brief

The Rising Cost of Flood Insurance in New York City

Even as many in New York City struggle to rebuild after Hurricane Sandy, changes in the flood insurance market are increasing premiums for those living near the coast. This brief examines the gravity of the news and what can be done in response.

Report

Fair Value Accounting, Historical Cost Accounting, and Systemic Risk: Policy Issues and Options for Strengthening Valuation and Reducing Risk

Examines the relationship between fair value accounting and historical cost accounting and systemic risk to the financial system, including the role that the accounting approaches played in the 2008 financial crisis.

Research Brief

Systemic Risk in the Financial Sector: The Role of Fair Value Accounting Versus Historical Cost Accounting

Examines the relationship between fair value accounting and historical cost accounting and systemic risk to the financial system, including the role that accounting approaches played in the 2008 and earlier financial crises.

Report

Hedge Funds, Systemic Risk, and Dodd-Frank: The Road Ahead

These proceedings summarize the key themes and issues raised during a September 2012 RAND symposium. Discussion focused on how hedge funds might contribute to systemic risk and the extent to which recent financial reforms address these risks.

Report

Outcome Evaluation of U.S. Department of State Support for the Global Methane Initiative

A RAND study evaluated U.S. Department of State contributions to the Global Methane Initiative, an international partnership to promote methane recovery and reuse. The study focused on the strategic contributions and program activities and outcomes.

Report

Choosing a New Organization for Management and Disposition of Commercial and Defense High-Level Radioactive Materials

Describes the steps needed to design a new organization for the management and disposition of commercial and defense high-level radioactive materials, with particular focus on the relationship of the organization to the President and Congress.

Research Brief

Options for an Organization to Manage and Dispose of Radioactive Materials

RAND researchers describe the attributes of potential organizational models and the steps needed to choose the form of a new organization charged with managing and disposing of commercial and defense high-level radioactive materials.

Research Brief

Do Hedge Funds Pose a Systemic Risk to the Economy?

RAND research finds that hedge funds did not play a pivotal role in the financial crisis of 2007-2008 but assesses how such funds could contribute to systemic risk in the future.

Report

Hedge Funds and Systemic Risk

This report explores the extent to which hedge funds create or contribute to systemic risk, the role they played in the financial crisis, and whether and how the 2010 Dodd-Frank legislation addresses the potential systemic risks they pose.

Report

Earthquake Insurance and Disaster Assistance: The Effect of Catastrophe Obligation Guarantees on Federal Disaster-Assistance Expenditures in California

Proponents of the Catastrophe Obligation Guarantee Act argue that lower-cost catastrophe insurance could reduce federal disaster-assistance expenditures. This report estimates the law's potential effects in California.

Report

An Assessment of the U.S. Environmental Protection Agency's National Environmental Performance Track Program

The National Environmental Performance Track program sought to encourage facilities to improve their environmental performance. The U.S. Environmental Protection Agency should continue to find ways to enhance traditional regulatory approaches.

Report

Strengthening U.S. International Energy Assistance to Reduce Greenhouse Gas Emissions and Improve Energy Security

U.S. international energy-assistance programs, a potentially important tool for reducing global greenhouse gas emissions and increasing energy security, are reviewed and compared with German programs; recommendations are made for further study.

Report

Understanding Forfeitures: An Analysis of the Relationship Between Case Details and Forfeiture Among TEOAF High-Forfeiture and Major Cases

The Treasury Executive Office for Asset Forfeiture (TEOAF) administers the Treasury Forfeiture Fund (TFF). This report examines the relationship between targeted funding of major financial investigations and forfeiture outcomes.

Report

The Global Technology Revolution China, In-Depth Analyses: Emerging Technology Opportunities for the Tianjin Binhai New Area (TBNA) and the Tianjin Economic-Technological Development Area (TEDA) (Chinese-language version)

Tianjin Binhai New Area and the Tianjin Economic-Technological Development Area commissioned a technology-foresight study to help them plan for economic growth. Seven applications stand out; the authors describe drivers, barriers, and plans for each.

Report

The Global Technology Revolution China, Executive Summary: Emerging Technology Opportunities for the Tianjin Binhai New Area (TBNA) and the Tianjin Economic-Technological Development Area (TEDA)

Tianjin Binhai New Area and the Tianjin Economic-Technological Development Area commissioned a technology-foresight study to help them plan for economic growth. Seven applications stand out; the authors describe drivers, barriers, and plans for each.

Report

The Global Technology Revolution China, In-Depth Analyses: Emerging Technology Opportunities for the Tianjin Binhai New Area (TBNA) and the Tianjin Economic-Technological Development Area (TEDA)

Tianjin Binhai New Area and the Tianjin Economic-Technological Development Area commissioned a technology-foresight study to help them plan for economic growth. Seven applications stand out; the authors describe drivers, barriers, and plans for each.

Research Brief

Investment Advisers and Broker-Dealers

This research brief describes broker-dealers and investment advisers -- their numbers, size, assets, clients, services, and affiliations -- and examines whether individual investors understand the differences between them.

Report

Investor and Industry Perspectives on Investment Advisers and Broker-Dealers

This report examines current practices and investor understanding of brokers, dealers, and investment advisers -- three theoretically distinct types of financial professionals whose boundaries have blurred in recent decades.

Report

The Effects of the Changes in Chapter 7 Debtors' Lien-Avoidance Rights Under the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005

The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA) limited exempt household goods on which debtors could avoid certain liens. This study found no changes in debtor or creditor behavior due to the new limits.

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The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005: Evaluation of the Effects of Using IRS Expense Standards to Calculate a Debtor's Monthly Disposable Income

The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 requires that bankruptcy filers with above-median monthly incomes use IRS standards, not current expenses, to calculate disposable income. This report assesses this law's effects.

Report

Prebankruptcy Credit Counseling

This report examines the challenges facing EOUST in measuring the effectiveness of prebankruptcy credit counseling for approving and reapproving providers, now that counseling is required for individual filers.

Research Brief

Private Insurers Play a Limited, but Key, Role in Underwriting Residential Flood Insurance

This research brief summarizes a study that found that the private insurance industry underwrites residential flood insurance in a limited but important niche, protecting more homes, responding to lender and borrower needs, and reducing lender costs.

Report

Identifying Fraud, Abuse, and Error in Personal Bankruptcy Filings

A digital bankruptcy case filing system, incorporating lessons from the IRS and GSA as well as the private sector, may be on the horizon to help the U.S. Trustee Program better identify and measure fraud, abuse, and error in personal bankruptcies.

Report

The Lender-Placed Flood Insurance Market for Residential Properties

The National Flood Insurance Program (NFIP) provides the majority of flood insurance on U.S. residential properties. This report provides information about the size of the private flood insurance market and compares private with NFIP policies.

Research Brief

Evaluating National Flood Insurance

This research brief assesses the nationwide market penetration rate of the Federal Emergency Management Agency-administered National Flood Insurance Program, identifies the contributing factors, and summarizes the benefits of increasing this rate.

Report

The National Flood Insurance Program’s Market Penetration Rate: Estimates and Policy Implications

This report contributes to the Federal Emergency Management Agency's evaluation of the National Flood Insurance Program by assessing the program's market penetration rate and by examining opportunities for increasing this rate.

Research Brief

Transferrring Army Land Containing UXO: Problems and Possible Solutions

The Army asked RAND Arroyo Center to identify and assess obstacles to the transfer of land containing unexploded ordnance (UXO) and then to identify innovative ways to accomplish such transfer.

Report

Transferring Army BRAC Lands Containing Unexploded Ordnance: Lessons Learned and Future Options

Identifies and assesses obstacles to disposing of excess Army lands that contain unexploded ordnance, and identifies innovative options for the disposal of these lands.

Report

Case Studies of Existing Human Tissue Repositories: "Best Practices" for a Biospecimen Resource for the Genomic and Proteomic Era

Insights and information from a study of twelve human tissue repositories.