TY - JOUR

T1 - Catastrophe-induced Destruction and Reconstruction

AU - De Silva, Dakshina G.

AU - Kruse, Jamie B.

AU - Wang, Yongsheng

PY - 2006

Y1 - 2006

N2 - 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.

AB - 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.

U2 - 10.1061/(ASCE)1527-6988(2006)7:1(19)

DO - 10.1061/(ASCE)1527-6988(2006)7:1(19)

M3 - Journal article

VL - 7

SP - 19

EP - 25

JO - Natural Hazards Review

JF - Natural Hazards Review

SN - 1527-6996

IS - 1

ER -