Market responses to hurricanes

被引：168

作者：

Hallstrom, DG ^{[1
]}

Smith, VK ^{[1
]}

机构：

[1] N Carolina State Univ, Ctr Environm & Resource Econ Policy, Dept Agr & Resource Econ, Raleigh, NC 27695 USA

来源：

JOURNAL OF ENVIRONMENTAL ECONOMICS AND MANAGEMENT | 2005年 / 50卷 / 03期

关键词：

repeat sales; hurricane risk; hedonic property model;

D O I：

10.1016/j.jeem.2005.05.002

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This paper uses one of the strongest hurricanes to hit the US, Andrew in 1992, to define a quasi-random experiment that permits estimation of the responses of housing values to information about new hurricanes. Lee County, Florida did not experience damage from Andrew. The storm was a "near-miss." We hypothesize that Andrew conveyed risk information to homeowners in the county. A difference-indifferences (DND) framework identifies the effect of this information on property values in areas likely to experience significant storm damage. The DND findings indicate at least a 19 percent decline in property values. (c) 2005 Elsevier Inc. All rights reserved.

引用

页码：541 / 561

页数：21

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