Estimating the Economic Impact of Natural and Social Disasters, with an Application to Hurricane Katrina

Robert A. Baade, Robert Baumann () and Victor Matheson
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Robert A. Baade: Department of Business and Economics, Lake Forest College, Lake Forest, IL 60045, USA, baade@lfc.edu

Urban Studies, 2007, vol. 44, issue 11, 2061-2076

Abstract: This paper examines taxable sales in the Los Angeles and Miami metropolitan areas to find evidence of the short- and long-run effects of the Rodney King riots and Hurricane Andrew on their respective economies. The comparison of these two events shows that the King riots had a long-term negative effect on Los Angeles' economy while Hurricane Andrew had a short-term positive effect on the Miami economy. The paper also applies the contrasting experiences of Los Angeles and Miami to New Orleans following Hurricane Katrina. In some ways, Katrina is a hybrid of these two events since it combines elements of both a natural disaster and a social disaster. The paper examines how Katrina is similar to each of the previous incidents and how these similarities might affect the recovery of New Orleans following the storm.

Date: 2007
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Related works:
Working Paper: Predicting the Path to Recovery from Hurricane Katrina through the Lens of Hurricane Andrew and the Rodney King Riots (2005)
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Persistent link: https://EconPapers.repec.org/RePEc:sae:urbstu:v:44:y:2007:i:11:p:2061-2076

DOI: 10.1080/00420980701518917

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