Tropical Cyclone Losses in the USA and the Impact of Climate Change: A Trend Analysis Based on a New Dataset

Silvio Schmidt, Claudia Kemfert and Peter Höppe

No 802, Discussion Papers of DIW Berlin from DIW Berlin, German Institute for Economic Research

Abstract: Economic losses caused by tropical cyclones have increased dramatically. It can be assumed that most losses are due to increased prosperity and a greater tendency for people to settle in exposed areas, but also that the growing incidence of severe cyclones is due to climate change. This paper aims to isolate the socio-economic effects and ascertain the potential impact of climate change on this trend. Storm losses for the period 1950-2005 have been adjusted to 2005 socio-economic values so that any remaining trend cannot be ascribed to socio-economic developments. In the period 1971-2005, losses excluding socio-economic effects show an annual increase of 4% per annum.

Keywords: Climate change; tropical cyclones; loss trends (search for similar items in EconPapers)
JEL-codes: Q50 Q51 Q54 (search for similar items in EconPapers)
Pages: 33 p.
Date: 2008
New Economics Papers: this item is included in nep-ene, nep-env and nep-res
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Citations: View citations in EconPapers (16)

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