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Tropical Cyclone Losses in the USA and the Impact of Climate Change: A Trend Analysis Based on a New Dataset

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Author Info

  • Silvio Schmidt
  • Claudia Kemfert
  • Peter Höppe

Abstract

Economic losses caused by tropical cyclones have increased dramatically. It can be assumed that most losses are due to increased prosperity and a greater tendency for people to settle in exposed areas, but also that the growing incidence of severe cyclones is due to climate change. This paper aims to isolate the socio-economic effects and ascertain the potential impact of climate change on this trend. Storm losses for the period 1950-2005 have been adjusted to 2005 socio-economic values so that any remaining trend cannot be ascribed to socio-economic developments. In the period 1971-2005, losses excluding socio-economic effects show an annual increase of 4% per annum.

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File URL: http://www.diw.de/documents/publikationen/73/diw_01.c.86656.de/dp802.pdf
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Bibliographic Info

Paper provided by DIW Berlin, German Institute for Economic Research in its series Discussion Papers of DIW Berlin with number 802.

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Length: 33 p.
Date of creation: 2008
Date of revision:
Handle: RePEc:diw:diwwpp:dp802

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Keywords: Climate change; tropical cyclones; loss trends;

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Cited by:
  1. Silvio Schmidt & Claudia Kemfert & Peter Höppe, 2008. "The Impact of Socio-economics and Climate Change on Tropical Cyclone Losses in the USA," Discussion Papers of DIW Berlin 824, DIW Berlin, German Institute for Economic Research.
  2. Eric Neumayer & Fabian Barthel, 2010. "Normalizing economic loss from natural disasters: a global analysis," Grantham Research Institute on Climate Change and the Environment Working Papers, Grantham Research Institute on Climate Change and the Environment 31, Grantham Research Institute on Climate Change and the Environment.
  3. Stéphane Hallegatte, 2013. "An Exploration of the Link Between Development, Economic Growth, and Natural Risk," Working Papers, Fondazione Eni Enrico Mattei 2013.29, Fondazione Eni Enrico Mattei.
  4. Fabian Barthel & Eric Neumayer, 2010. "A trend analysis of normalized insured damage from natural disasters," LSE Research Online Documents on Economics, London School of Economics and Political Science, LSE Library 37600, London School of Economics and Political Science, LSE Library.
  5. Melanie Gall & Kevin A. Borden & Christopher T. Emrich & Susan L. Cutter, 2011. "The Unsustainable Trend of Natural Hazard Losses in the United States," Sustainability, MDPI, Open Access Journal, vol. 3(11), pages 2157-2181, November.
  6. Liu, Jing, 2012. "Weather or Wealth: An Analysis of Property Loss Caused by Flooding in the U.S," 2012 Annual Meeting, August 12-14, 2012, Seattle, Washington, Agricultural and Applied Economics Association 124992, Agricultural and Applied Economics Association.

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