When oceans attack: assessing the impact of hurricanes on localized taxable sales

Ariel Belasen () and Chifeng Dai

The Annals of Regional Science, 2014, vol. 52, issue 2, 325-342

Abstract: We examine the impact of hurricanes in Florida on county-level taxable sales revenues. Conditional on the strength of the hurricane, within 6 months after a hurricane strikes a county, revenues decline as much as 17 %, whereas revenues in neighboring counties increase by upward of 17 % over that same time frame. This decline in revenue is found to be dependent on the commercial makeup of a hurricane-stricken county. Particular focus is given to tourism-related subsectors within the local economy. Finally, we show that along the pathways of hurricanes, initially hit counties face a more severe burden, ranging as high as a 33 % immediate decline in taxable revenues in 1 month for coastal counties. As the hurricane weakens, the direct impact is lessened; however, there is evidence of spillover damage in neighboring areas. Copyright Springer-Verlag Berlin Heidelberg 2014

Keywords: H71; R11 (search for similar items in EconPapers)
Date: 2014
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Citations: View citations in EconPapers (3)

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DOI: 10.1007/s00168-013-0587-8

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