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Improvements in Flood Risk Assessment: Evidence from Northern Italy

Author

Listed:
  • Mattia Amadio

    (Fondazione Eni Enrico Mattei and Euro-Mediterranean Centre on Climate Change, Italy)

  • Jaroslav Mysiak

    (Fondazione Eni Enrico Mattei and Euro-Mediterranean Centre on Climate Change, Italy)

  • Lorenzo Carrera

    (Fondazione Eni Enrico Mattei and Euro-Mediterranean Centre on Climate Change, Italy)

  • Elco Koks

    (Institute for Environmental Studies (IVM), VU University Amsterdam, The Netherlands)

Abstract

The assessment of potential economic damage caused by floods is commonly done via methodologies based on Stage-Damage Curves (SDC), which provide a relation between the depth of water and the economic damage on a specific land use. SDC are developed for site-specific analysis but seldom calibrated or tested for transferability purpose. In Italy no specific damage functions have been developed so far, despite damage reports being collected after every major flood. Here a refined SDC model is tested against a flood event in Northern Italy. SDCs calibration is underpinned with empirical data from compensation records. Our framework includes the assessment of asset losses, focusing on urban and agricultural land, and production losses. While the first are calculated based on land use, production losses are measured through the spatial distribution of Gross Value Added.

Suggested Citation

  • Mattia Amadio & Jaroslav Mysiak & Lorenzo Carrera & Elco Koks, 2015. "Improvements in Flood Risk Assessment: Evidence from Northern Italy," Review of Environment, Energy and Economics - Re3, Fondazione Eni Enrico Mattei, June.
    • Handle: RePEc:fem:femre3:2015.06-02
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    More about this item

    Keywords

    Flood Risk; Stage Depth Damage Curves; Italy;
    All these keywords.

    JEL classification:

    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming

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