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Modeling the Regional Impact of Natural Disaster and Recovery: A General Framework and an Application to Hurricane Andrew

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  • Carol T. West

    (Bureau of Economic and Business Research, University of Florida, Gainesville FL 32611 USA)

  • David G. Lenze

    (Bureau of Economic and Business Research, University of Florida, Gainesville FL 32611 USA)

Abstract

Two common features of natural disasters are intense regional impact and the call immediately after the event to estimate the economic impact of recovery and reconstruction. The broad purpose of this paper is to help fill the gap in the regional science literature that addresses this issue. Initially, the impact estimation problem is presented conceptually. Using a general regional model schematic, direct disaster impacts on exogenous variables, endogenous variables, and model linkages are identified. Next, the conceptual problem is adapted for practical application. This translation has two aspects: (1) modifying the direct impacts for a specific model (common variants from the schematic are considered) and (2) estimating those impacts from available data. One component of the latter identifies primary sources of information typically available at the time of a natural disaster and indicates how secondary data may be used to complement, cross-check, and expand those data. A second component identifies areas of no information or high uncertainty and discusses treatment of that information gap in empirical analysis. A final section applies the research to the problem of estimating the impact of Hurricane Andrew on the economy of Florida.

Suggested Citation

  • Carol T. West & David G. Lenze, 1994. "Modeling the Regional Impact of Natural Disaster and Recovery: A General Framework and an Application to Hurricane Andrew," International Regional Science Review, , vol. 17(2), pages 121-150, August.
  • Handle: RePEc:sae:inrsre:v:17:y:1994:i:2:p:121-150
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    Cited by:

    1. Bourdeau-Brien, Michael & Kryzanowski, Lawrence, 2017. "The impact of natural disasters on the stock returns and volatilities of local firms," The Quarterly Review of Economics and Finance, Elsevier, vol. 63(C), pages 259-270.
    2. Carmen Camacho & Yu Sun, 2017. "Longterm decision making under the threat of earthquakes," PSE Working Papers halshs-01670507, HAL.
    3. David G. Lenze, 1997. "Dynamic and Spatial Impact of Hurricane Andrew on Florida'S Taxable Sales: An Intervention Analysis," The Review of Regional Studies, Southern Regional Science Association, vol. 27(2), pages 163-183, Fall.
    4. Robert Baade & Robert Baumann & Victor Matheson, 2005. "Predicting the Path to Recovery from Hurricane Katrina through the Lens of Hurricane Andrew and the Rodney King Riots," Working Papers 0515, College of the Holy Cross, Department of Economics.
    5. Walker Douglas M & Jackson John D, 2009. "Katrina and the Gulf States Casino Industry," Journal of Business Valuation and Economic Loss Analysis, De Gruyter, vol. 4(2), pages 1-17, April.
    6. Iman Rahimi Aloughareh & Mohsen Ghafory Ashtiany & Kiarash Nasserasadi, 2016. "An Integrated Methodology For Regional Macroeconomic Loss Estimation Of Earthquake: A Case Study Of Tehran," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 61(04), pages 1-24, September.
    7. Ewing Bradley T. & Kruse Jamie Brown & Sutter Daniel, 2009. "An Overview of Hurricane Katrina and Economic Loss," Journal of Business Valuation and Economic Loss Analysis, De Gruyter, vol. 4(2), pages 1-14, April.
    8. Anita A. Pena & Sammy Zahran & Anthony Underwood & Stephan Weiler, 2014. "Effect of Natural Disasters on Local Nonprofit Activity," Growth and Change, Wiley Blackwell, vol. 45(4), pages 590-610, December.

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