Measuring long-run economic effects of natural hazard
This paper studies the long-run economic effects of severe weather on regional economies. A catastrophic event, such as a hurricane, will have an effect on both the directly impacted region and adjacent regions. With dramatically increasing damage from catastrophic weather events over the past few decades, comprehensive assessment of the long-run economic impact of natural disasters across the broader region becomes more important than ever for planning for post-disaster recovery. We estimate the long-run effect of Hurricane Katrina on the unemployment rate of Houston, TX by employing time-series and fixed-effect models. Using Dallas as a control, we find that Katrina is associated with a higher long-run unemployment rate in Houston than would otherwise have been expected. This implies that the hurricane-generated adverse relative effects on Houston. Our findings suggest that areas that are geographically proximate to the directly impacted region can sustain lasting negative economic consequences. Copyright Springer Science+Business Media B.V. 2011
Volume (Year): 58 (2011)
Issue (Month): 1 (July)
|Contact details of provider:|| Web page: http://www.springer.com/economics/journal/11069|
|Order Information:||Web: http://link.springer.de/orders.htm|
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.:
- Carl Bonham & Byron Gangnes, 1995. "Intervention Analysis with Cointegrated Time Series: The Case of the Hawaii Hotel Room Tax," Working Papers 199505, University of Hawaii at Manoa, Department of Economics.
- Dakshina G. De Silva & Robert P. McComb & Young-Kyu Moh & Anita R. Schiller & Andres J. Vargas, 2010. "The Effect of Migration on Wages: Evidence from a Natural Experiment," American Economic Review, American Economic Association, vol. 100(2), pages 321-26, May.
- Blair, Benjamin F. & Rezek, Jon P., 2008. "The effects of Hurricane Katrina on price pass-through for Gulf Coast gasoline," Economics Letters, Elsevier, vol. 98(3), pages 229-234, March.
When requesting a correction, please mention this item's handle: RePEc:spr:nathaz:v:58:y:2011:i:1:p:559-566. 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: (Sonal Shukla)or (Christopher F Baum)
If references are entirely missing, you can add them using this form.