Economic diversification and the resiliency hypothesis: Evidence from the impact of natural disasters on regional housing values

N. Edward Coulson, Shawn J. McCoy and Ian McDonough ()

Regional Science and Urban Economics, 2020, vol. 85, issue C

Abstract: We estimate the effect regional economic diversification has on the resiliency of the U.S. housing market, treating the spatial and temporal variation in natural disasters as exogenous shocks to regional economies. Our study demonstrates that diversity dampens both the magnitude and the duration of the effects of a disaster on local real estate values. Implications of our findings for the potential benefits of diversification in regional economies are discussed.

Keywords: Resiliency; Natural disasters; Housing prices (search for similar items in EconPapers)
JEL-codes: Q5 R23 (search for similar items in EconPapers)
Date: 2020
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:regeco:v:85:y:2020:i:c:s0166046220302660

DOI: 10.1016/j.regsciurbeco.2020.103581

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