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Research output: Contribution to Journal/Magazine › Journal article › peer-review
Research output: Contribution to Journal/Magazine › Journal article › peer-review
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TY - JOUR
T1 - Measuring long-run economic effects of natural hazard
AU - McComb, R.
AU - Moh, Y.-K.
AU - Schiller, A.R.
PY - 2011/7
Y1 - 2011/7
N2 - 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. © 2010 Springer Science+Business Media B.V.
AB - 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. © 2010 Springer Science+Business Media B.V.
KW - Long-run economic effects
KW - Natural hazards
KW - Panel data estimation
KW - Time-series estimation
KW - catastrophic event
KW - disaster management
KW - economic impact
KW - Hurricane Katrina 2005
KW - natural disaster
KW - natural hazard
KW - numerical model
KW - panel data
KW - recovery plan
KW - severe weather
KW - time series analysis
KW - unemployment
KW - Houston
KW - Texas
KW - United States
U2 - 10.1007/s11069-010-9687-2
DO - 10.1007/s11069-010-9687-2
M3 - Journal article
VL - 58
SP - 559
EP - 566
JO - Natural Hazards
JF - Natural Hazards
SN - 0921-030X
IS - 1
ER -