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International Migration Responses to Natural Disasters : Evidence from Modern Europe's Most Destructive Earthquake
Spitzer, Yannay; Tortorici, Gaspare; Zimran, Ariell - 2022
The Messina-Reggio Calabria Earthquake (1908) was the most devastating natural disaster in modern European history. It …
Persistent link: https://www.econbiz.de/10013299202
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Covid-19 and the Macroeconomic Effects of Costly Disasters
Ludvigson, Sydney C. - 2020
The outbreak of COVID-19 has significantly disrupted the economy. This paper attempts to quantify the macroeconomic impact of costly and deadly disasters in recent US history, and to translate these estimates into an analysis of the likely impact of COVID-19. A costly disaster series is...
Persistent link: https://www.econbiz.de/10012837186
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The Causal Effect of Environmental Catastrophe on Long-Run Economic Growth : Evidence from 6,700 Cyclones
Hsiang, Solomon - 2014
Does the environment have a causal effect on economic development? Using meteorological data, we reconstruct every country's exposure to the universe of tropical cyclones during 1950-2008. We exploit random within-country year-to-year variation in cyclone strikes to identify the causal effect of...
Persistent link: https://www.econbiz.de/10013049691
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Structural Uncertainty and the Value of Statistical Life in the Economics of Catastrophic Climate Change
Weitzman, Martin - 2007
Using climate change as a prototype motivating example, this paper analyzes the implications of structural uncertainty for the economics of low-probability high-impact catastrophes. The paper shows that having an uncertain multiplicative parameter, which scales or amplifies exogenous shocks and...
Persistent link: https://www.econbiz.de/10012775805
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A General Rationale for a Governmental Role in the Relief of Large Risks
Shavell, Steven - 2014
The government often provides relief against large risks, such as disasters. A simple, general rationale for this role of government is considered here that applies even when private contracting to share risks is not subject to market imperfections. Specifically, the optimal private sharing of...
Persistent link: https://www.econbiz.de/10013052679
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The Economic Impact of Hurricane Katrina on its Victims : Evidence from Individual Tax Returns
Deryugina, Tatyana - 2014
Hurricane Katrina destroyed more than 200,000 homes and led to massive economic and physical dislocation. Using a panel of tax return data, we provide one of the first comprehensive analyses of the hurricane's long-term economic impact on its victims. Katrina had large and persistent impacts on...
Persistent link: https://www.econbiz.de/10013043277
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Do People Overreact? Evidence from the Housing Market after the Wenchuan Earthquake
Deng, Guoying - 2013
This paper uses the 2008 Wenchuan earthquake in China as a natural experiment to examine how the housing market reacted … analyze the pricing behavior of units in lower versus upper floors before and after the earthquake. We observe that average … in the first and second floor, considerably increased for several months after the earthquake. This relative pricing …
Persistent link: https://www.econbiz.de/10013074649
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Prices and Supply Disruptions During Natural Disasters
Cavallo, Alberto - 2013
2010 earthquake in Chile and the 2011 earthquake in Japan. In both cases there was an immediate and persistent effect on … suggests a bigger role for supply disruptions that restricted the ability of retailers to re-stock goods after the earthquake …
Persistent link: https://www.econbiz.de/10013075420
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How the 1906 San Francisco Earthquake Shaped Economic Activity in the American West
Ager, Philipp - 2019
This paper examines the long-run effects of the 1906 San Francisco Earthquake on the spatial distribution of economic … activity in the American West. Using variation in the potential damage intensity of the earthquake, we show that more severely … attractive migration destinations in the immediate aftermath of the earthquake, which permanently changed the spatial …
Persistent link: https://www.econbiz.de/10012889054
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Fear of Fracking? The Impact of the Shale Gas Exploration on House Prices in Britain
Gibbons, Stephen - 2016
Shale gas has grown to become a major new source of energy in countries around the globe. While its importance for energy supply is well recognized, there has also been public concern over potential risks such as damage to buildings and contamination of water supplies caused by geological...
Persistent link: https://www.econbiz.de/10012978528