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Consumption insurance against natural disasters: evidence from the Great Hanshin-Awaji (Kobe) earthquake

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  • Yasuyuki Sawada
  • Satoshi Shimizutani

Abstract

We investigated whether people were insured against unexpected losses caused by the Great Hanshin-Awaji (Kobe) earthquake in 1995 and found that the full consumption insurance hypothesis was rejected overwhelmingly, suggesting the ineffectiveness of the formal/informal insurance mechanisms against the earthquake.

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Bibliographic Info

Article provided by Taylor & Francis Journals in its journal Applied Economics Letters.

Volume (Year): 14 (2007)
Issue (Month): 4 ()
Pages: 303-306

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Handle: RePEc:taf:apeclt:v:14:y:2007:i:4:p:303-306

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Cited by:
  1. Yasuyuki Sawada & Satoshi Shimizutani, 2011. "Changes in durable stocks, portfolio allocation, and consumption expenditure in the aftermath of the Kobe earthquake," Review of Economics of the Household, Springer, vol. 9(4), pages 429-443, December.
  2. Yasuyuki SAWADA & Fauziah ZEN, 2014. "Disaster Management in ASEAN," Working Papers DP-2014-03, Economic Research Institute for ASEAN and East Asia (ERIA).
  3. Ryuhei Wakasugi & Ayumu Tanaka, 2013. "Recovery from the Mega-quake in Japan: Evidence from Manufacturing Firms," KIER Working Papers 867, Kyoto University, Institute of Economic Research.
  4. Narayanan K & Unmesh Patnaik, 2010. "Vulnerability and Coping to Disasters: A Study of Household Behaviour in Flood Prone Region of India," Working Papers id:2470, eSocialSciences.
  5. Yasuyuki Sawada, 2007. "The impact of natural and manmade disasters on household welfare," Agricultural Economics, International Association of Agricultural Economists, vol. 37(s1), pages 59-73, December.
  6. Ohtake, Fumio & Okuyama, Naoko & Sasaki, Masaru & Yasui, Kengo, 2014. "The Long-term Impact of the 1995 Hanshin–Awaji Earthquake on Wage Distribution," IZA Discussion Papers 8124, Institute for the Study of Labor (IZA).
  7. Yamamura, Eiji, 2011. "Public sector corruption and the probability of technological disasters," MPRA Paper 34833, University Library of Munich, Germany.
  8. Eiji Yamamura & Yoshiro Tsutsui & Chisako Yamane & Shoko Yamane, 2014. "Effect of major disasters on geographical mobility intentions: the case of the Fukushima nuclear accident," ISER Discussion Paper 0903, Institute of Social and Economic Research, Osaka University.
  9. TANAKA Ayumu, 2013. "The Impacts of Natural Disasters on Plants' Growth: Evidence from the Great Hanshin-Awaji (Kobe) Earthquake," Discussion papers 13051, Research Institute of Economy, Trade and Industry (RIETI).
  10. Yamamura, Eiji, 2013. "Impact of natural disasters on income inequality: Analysis using panel data during the period 1965 to 2004," MPRA Paper 45623, University Library of Munich, Germany.
  11. Eiji Yamamura, 2013. "Natural Disasters and Participation in Volunteer Activities: A Case Study of the Great Hanshin-Awaji Earthquake," Annals of Public and Cooperative Economics, Wiley Blackwell, vol. 84(1), pages 103-117, 03.
  12. Yasuyuki Sawada & Satoshi Shimizutani, 2007. "Consumption Insurance and Risk-Coping Strategies under Non-Separable Utility: Evidence from the Kobe Earthquake," CARF F-Series CARF-F-106, Center for Advanced Research in Finance, Faculty of Economics, The University of Tokyo.
  13. Eiji Yamamura, 2013. "Natural disasters and social capital formation: The impact of the Great Hanshin-Awaji earthquake," EERI Research Paper Series EERI RP 2013/10, Economics and Econometrics Research Institute (EERI), Brussels.
  14. Yamamura, Eiji, 2012. "Natural disasters and their long-term effect on happiness: the case of the great Hanshin-Awaji earthquake," MPRA Paper 37505, University Library of Munich, Germany.
  15. Eiji Yamamura & Yoshiro Tsutsui & Chisako Yamane & Shoko Yamane & Nattavudh Powdthavee, 2014. "Trust and Happiness: Comparative Study Before and After the Great East Japan Earthquake," ISER Discussion Paper 0904, Institute of Social and Economic Research, Osaka University.
  16. Yamamura, Eiji, 2012. "Death tolls from natural disasters: Influence of interactions between fiscal decentralization, institution, and economic development," MPRA Paper 36987, University Library of Munich, Germany.

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