The Unsustainable Trend of Natural Hazard Losses in the United States
In the United States, direct losses from natural hazards are on the rise with hurricanes, flooding, and severe storms contributing about three quarters of the total damages. While losses from severe storms have been stable over the past fifty years, hurricane and flood losses have tripled. Per capita losses are also increasing showing that impacts outpace population growth with high per capita losses occurring largely in the Southeast and Midwest. If the loss escalation of the past two decades continues into the future, then direct losses of $300 to $400 billion within a single decade are possible. In order to reverse this trend, sustainable development, vulnerability reduction, and hazard mitigation must become priorities and current loss reduction efforts need to be evaluated and re-assessed in terms of their effectiveness. These conclusions are drawn from the analysis of spatial and temporal trends in direct losses from natural hazards using SHELDUS TM data from 1960 through 2009. Loss data are adjusted for inflation, population, and wealth to capture both trends in total losses and per capita losses. The loss data are then compared to disaster-related federal government and private insurance expenditures.
References listed on IDEAS
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.:
- Eric Neumayer & Fabian Barthel, 2011.
"Normalizing economic loss from natural disasters: a global analysis,"
LSE Research Online Documents on Economics
30785, London School of Economics and Political Science, LSE Library.
- Eric Neumayer & Fabian Barthel, 2010. "Normalizing economic loss from natural disasters: a global analysis," GRI Working Papers 31, Grantham Research Institute on Climate Change and the Environment.
- Fabian Barthel & Eric Neumayer, 2010. "Normalizing economic loss from natural disasters: a global analysis," LSE Research Online Documents on Economics 37601, London School of Economics and Political Science, LSE Library.
- Gordon McBean, 2004. "Climate Change and Extreme Weather: A Basis for Action," Natural Hazards: Journal of the International Society for the Prevention and Mitigation of Natural Hazards, Springer;International Society for the Prevention and Mitigation of Natural Hazards, vol. 31(1), pages 177-190, January.
- Silvio Schmidt & Claudia Kemfert & Peter Höppe, 2008. "Tropical Cyclone Losses in the USA and the Impact of Climate Change: A Trend Analysis Based on a New Dataset," Discussion Papers of DIW Berlin 802, DIW Berlin, German Institute for Economic Research.
- David Godschalk & Adam Rose & Elliott Mittler & Keith Porter & Carol Taylor West, 2009. "Estimating the value of foresight: aggregate analysis of natural hazard mitigation benefits and costs," Journal of Environmental Planning and Management, Taylor & Francis Journals, vol. 52(6), pages 739-756.
- Howard C. Kunreuther & Erwann O. Michel-Kerjan, 2009.
"At War with the Weather: Managing Large-Scale Risks in a New Era of Catastrophes,"
MIT Press Books,
The MIT Press,
edition 1, volume 1, number 0262012820, December.
- Kunreuther, Howard C. & Michel-Kerjan, Erwann O., 2011. "At War with the Weather: Managing Large-Scale Risks in a New Era of Catastrophes," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262516543, December.
- Thomas A. Garrett & Russell S. Sobel, 2003.
"The Political Economy of FEMA Disaster Payments,"
Western Economic Association International, vol. 41(3), pages 496-509, July.
When requesting a correction, please mention this item's handle: RePEc:gam:jsusta:v:3:y:2011:i:11:p:2157-2181:d:14794. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (XML Conversion Team)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.