1. Estimating the Economic Impact of Natural and Social Disasters, with an Application to Hurricane Katrina.
- Author
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Baade, Robert A., Baumann, Robert, and Matheson, Victor
- Subjects
SOCIOLOGY ,HURRICANE Andrew, 1992 ,HURRICANE Katrina, 2005 ,METROPOLITAN areas ,ECONOMICS - 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. [ABSTRACT FROM AUTHOR]
- Published
- 2007
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