Improvements in Flood Risk Assessment: Evidence from Northern Italy

Mattia Amadio, Jaroslav Mysiak (), Lorenzo Carrera and Elco Koks
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Mattia Amadio: Fondazione Eni Enrico Mattei and Euro-Mediterranean Centre on Climate Change, Italy
Lorenzo Carrera: Fondazione Eni Enrico Mattei and Euro-Mediterranean Centre on Climate Change, Italy
Elco Koks: Institute for Environmental Studies (IVM), VU University Amsterdam, The Netherlands

Review of Environment, Energy and Economics - Re3, 2015

Abstract: The assessment of potential economic damage caused by floods is commonly done via methodologies based on Stage-Damage Curves (SDC), which provide a relation between the depth of water and the economic damage on a specific land use. SDC are developed for site-specific analysis but seldom calibrated or tested for transferability purpose. In Italy no specific damage functions have been developed so far, despite damage reports being collected after every major flood. Here a refined SDC model is tested against a flood event in Northern Italy. SDCs calibration is underpinned with empirical data from compensation records. Our framework includes the assessment of asset losses, focusing on urban and agricultural land, and production losses. While the first are calculated based on land use, production losses are measured through the spatial distribution of Gross Value Added.

Keywords: Flood Risk; Stage Depth Damage Curves; Italy (search for similar items in EconPapers)
JEL-codes: Q54 (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:fem:femre3:2015.06-02

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