Importance of a victim-oriented recovery policy after major disasters

Kei Hosoya

Economic Modelling, 2019, vol. 78, issue C, 1-10

Abstract: This paper employs a growth model with public infrastructure, which is included in both utility and production functions, and investigates the importance of a victim-oriented recovery policy after major natural disasters such as the 2011 Great East Japan Earthquake and Tsunami. More concretely, the role of deep parameters in the recovery process is closely examined. Through the analysis, we find that the magnitude of public concerns about infrastructure and the magnitude of the intertemporal elasticity of substitution substantially affect the progress of recovery. In terms of economic recovery in general, production activities tend to be emphasized, but our results imply that one should not disregard victim-oriented recovery.

Keywords: 2011 Great East Japan Earthquake and Tsunami; Victim-oriented recovery policy; Speed of convergence; Public infrastructure (search for similar items in EconPapers)
JEL-codes: E61 H54 O41 (search for similar items in EconPapers)
Date: 2019
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (5)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecmode:v:78:y:2019:i:c:p:1-10

DOI: 10.1016/j.econmod.2018.09.011

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