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Catastrophe-induced Destruction and Reconstruction

Research output: Contribution to journalJournal article


<mark>Journal publication date</mark>2006
<mark>Journal</mark>Natural Hazards Review
Number of pages7
<mark>Original language</mark>English


This study examines the destruction caused by the May 3, 1999 Oklahoma City tornado and the rebuilding process using panel data techniques. The results indicate that, within 3 years, the average property value of the damaged cohort exceeded the undamaged group. We use a unique data set that includes individual Fujita-scale damage assessments from Texas Tech University in conjunction with estimates of market value provided by the Oklahoma County Tax Assessor. We estimate the relationship between the Fujita-scale damage assessment and the monetary loss in market value. Our results suggest that the greatest opportunity to reduce monetary losses from tornado damage is for low-intensity tornadoes. Further, at damage ratings of F1 and higher, research should be directed toward life safety measures.