Measuring the impacts of the national flood insurance program
AbstractThe National Flood Insurance Program was established in 1968 as a federally administered insurance program to reduce costs to the federal government for flood recovery and allocate recovery costs among potential disaster relief beneficiaries. Participants purchase flood insurance through participating property insurance providers which receive a haircut of the premium for overhead costs and passes the remainder to the Federal Emergency Management Agency. This paper outlines a model to measure the net social benefits attributable to the insurance component of the NFIP. Development of this model provides the baseline for further economic and social analysis of the NFIP.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 37758.
Date of creation: 22 Mar 2012
Date of revision:
flood insurance; disaster management; benefit-cost analysis; social surplus; risk management;
Find related papers by JEL classification:
- D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
- H43 - Public Economics - - Publicly Provided Goods - - - Project Evaluation; Social Discount Rate
This paper has been announced in the following NEP Reports:
- NEP-ALL-2012-04-10 (All new papers)
- NEP-ENV-2012-04-10 (Environmental Economics)
- NEP-IAS-2012-04-10 (Insurance Economics)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Chetty, Nadarajan, 2009.
"Sufficient Statistics for Welfare Analysis: A Bridge Between Structural and Reduced-Form Methods,"
9748528, Harvard University Department of Economics.
- Raj Chetty, 2009. "Sufficient Statistics for Welfare Analysis: A Bridge Between Structural and Reduced-Form Methods," Annual Review of Economics, Annual Reviews, Annual Reviews, vol. 1(1), pages 451-488, 05.
- Raj Chetty, 2008. "Sufficient Statistics for Welfare Analysis: A Bridge Between Structural and Reduced-Form Methods," NBER Working Papers 14399, National Bureau of Economic Research, Inc.
- David Moss, 1999. "Courting Disaster? The Transformation of Federal Disaster Policy since 1803," NBER Chapters, in: The Financing of Catastrophe Risk, pages 307-362 National Bureau of Economic Research, Inc.
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