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A General Equilibrium Analysis of Electricity Lifeline Losses Following a Debilitating Earthquake in Memphis, Tennessee

Author

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  • Gauri-Shankar Guha

    (Arkansas State University)

Abstract

Memphis, Tennessee is adjacent to the New Madrid fault zone that experienced the largest earthquakes to have ever hit North America. A major earthquake today will cause structural and urban lifeline damages resulting in huge economic losses extending to other regions, because of trade and transportation linkages. The computable general equilibrium (CGE) framework allows complete economy modeling with flexible and disaggregated specification of technology, non-linear behavioral responses of households and institutions to prices and markets, and the capability to value lost resources. Supply disruptions from earthquakes are not uniformly distributed over space. This feature is modeled as constraints on resource availability differentiated by economic sectors. This paper advances the CGE model framework for hazard loss estimation by developing a methodology that incorporates supply constraints for electric service availability. The analysis also addresses issues of disequilibria pertaining to natural hazards, such as import/export limits, price and labor market rigidities.

Suggested Citation

  • Gauri-Shankar Guha, 2020. "A General Equilibrium Analysis of Electricity Lifeline Losses Following a Debilitating Earthquake in Memphis, Tennessee," Journal of Economic Insight, Missouri Valley Economic Association, vol. 46(2), pages 21-46.
    • Handle: RePEc:mve:journl:v:46:y:2020:i:2:p:21-46
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    Cited by:

    1. Yuchen Hu & Harvey Cutler & Yihua Mao, 2023. "Economic Loss Assessment for Losses Due to Earthquake under an Integrated Building, Lifeline, and Transportation Nexus: A Spatial Computable General Equilibrium Approach for Shelby County, TN," Sustainability, MDPI, vol. 15(11), pages 1-24, May.

    More about this item

    JEL classification:

    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming
    • R32 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Other Spatial Production and Pricing Analysis

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