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Thinking about Imbalances in Post-catastrophe Economies: An Input-Output based Proposition

Author

Listed:
  • Albert E. Steenge
  • Marija Bockarjova

Abstract

In this paper we focus on the consequences of a major catastrophe for a modern economy, where 'major' means that a significant part of the economy's productive capacity is lost. In the aftermath of the catastrophe, authorities have to address a great number of issues. We show, using basic principles, that input-output methodology offers a flexible set of tools to address three fundamental issues: (1) obtaining a systematic insight in the imbalances that exist in the non-affected area after the catastrophe, (2) determining the nature of these imbalances and the way they affect options in the recovery process, and (3) introducing the elements of a cost-benefit analysis in the context of prevention and precautionary policies. Our approach strongly supports the need for extensive contingency planning in the presence of major natural hazards. A numerical example accompanies the various steps of the exercise.

Suggested Citation

  • Albert E. Steenge & Marija Bockarjova, 2007. "Thinking about Imbalances in Post-catastrophe Economies: An Input-Output based Proposition," Economic Systems Research, Taylor & Francis Journals, vol. 19(2), pages 205-223.
  • Handle: RePEc:taf:ecsysr:v:19:y:2007:i:2:p:205-223
    DOI: 10.1080/09535310701330308
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    Citations

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    Cited by:

    1. Safarzyńska, Karolina & Brouwer, Roy & Hofkes, Marjan, 2013. "Evolutionary modelling of the macro-economic impacts of catastrophic flood events," Ecological Economics, Elsevier, vol. 88(C), pages 108-118.
    2. Jing-Li Fan & Qiao-Mei Liang & Xiao-Jie Liang & Hirokazu Tatano & Yoshio Kajitani & Yi-Ming Wei, 2014. "National vulnerability to extreme climatic events: the cases of electricity disruption in China and Japan," 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. 71(3), pages 1937-1956, April.
    3. Ana Camarasa-Belmonte & D. Butrón, 2015. "Estimation of flood risk thresholds in Mediterranean areas using rainfall indicators: case study of Valencian Region (Spain)," 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. 78(2), pages 1243-1266, September.
    4. Gulay Gunluk-Senesen & Umit Senesen, 2011. "Decomposition Of Labour Demand By Employer Sectors And Gender: Findings For Major Exporting Sectors In Turkey," Economic Systems Research, Taylor & Francis Journals, vol. 23(2), pages 233-253.
    5. repec:spr:nathaz:v:87:y:2017:i:1:d:10.1007_s11069-017-2763-0 is not listed on IDEAS
    6. Christopher Burgess & Michael Taylor & Tannecia Stephenson & Arpita Mandal & Leiska Powell, 2015. "A macro-scale flood risk model for Jamaica with impact of climate variability," 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. 78(1), pages 231-256, August.
    7. Erik Dietzenbacher & Manfred Lenzen & Bart Los & Dabo Guan & Michael L. Lahr & Ferran Sancho & Sangwon Suh & Cuihong Yang, 2013. "Input--Output Analysis: The Next 25 Years," Economic Systems Research, Taylor & Francis Journals, vol. 25(4), pages 369-389, December.
    8. H. Moel & B. Jongman & H. Kreibich & B. Merz & E. Penning-Rowsell & P. Ward, 2015. "Flood risk assessments at different spatial scales," Mitigation and Adaptation Strategies for Global Change, Springer, vol. 20(6), pages 865-890, August.
    9. K. Jenkins, 2013. "Indirect economic losses of drought under future projections of climate change: a case study for Spain," 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. 69(3), pages 1967-1986, December.

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