The Economic Impact of Hurricane Katrina on Its Victims: Evidence from Individual Tax Returns

Deryugina, Tatyana; Kawano, Laura; Levitt, Steven D.

doi:10.1257/app.20160307

Cited by 163 publications

(78 citation statements)

References 37 publications

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“…Our paper is most similar to Deryugina, Kawano, and Levitt (2014) who, using tax return data, find a fairly modest effect on personal finances for those individuals living in New Orleans at the time of flooding. Deryugina, Kawano, and Levitt (2014) ask what the total effect of Katrina is on individual outcomes for residents of New Orleans as compared with a control group outside the city.…”

supporting

confidence: 71%

“…Nevertheless, despite the massive economic damage, little is known about the financial impact of Katrina on individual residents (Gregory 2013;Deryugina, Kawano, and Levitt 2014).…”

Section: A Hurricane Katrinamentioning

confidence: 99%

“…Deryugina, Kawano, and Levitt (2014) ask what the total effect of Katrina is on individual outcomes for residents of New Orleans as compared with a control group outside the city. Our estimates, by construction, net out any common shock to New Orleans.…”

mentioning

confidence: 99%

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Household Finance after a Natural Disaster: The Case of Hurricane Katrina

Gallagher

Hartley

2017

American Economic Journal: Economic Policy

116

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This paper does two things. First, we provide individual-level estimates of the causal effect of a costly natural disaster in the United States on levels of household debt and indicators of financial distress. Despite the sizable aggregate cost and long history of natural disasters in developed countries, relatively little is known about how affected residents are able to cope with the financial shock of a disaster. On one hand, the aggregate cost of these disasters are suggestive of large negative wealth

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supporting

confidence: 71%

“…Nevertheless, despite the massive economic damage, little is known about the financial impact of Katrina on individual residents (Gregory 2013;Deryugina, Kawano, and Levitt 2014).…”

Section: A Hurricane Katrinamentioning

confidence: 99%

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Household Finance after a Natural Disaster: The Case of Hurricane Katrina

Gallagher

Hartley

2017

American Economic Journal: Economic Policy

116

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“…Hurricane Katrina hit the coasts of Mississippi and Louisiana in August of 2005. Hurricane Katrina was one of the costliest and most destructive hurricane to strike the United States (Deryugina, Kawano, & Levitt, ). The Federal Emergency Management Agency () estimated the total damage of Hurricane Katrina to be about $151 billion.…”

Section: Literature Reviewmentioning

confidence: 99%

Does social capital pay off? The case of small business resilience after Hurricane Katrina

Torres

Marshall

Sydnor

2018

Contingencies & Crisis Mgmt

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This article uses objective and subjective measures of small business resilience and multiple categories of social capital pay‐offs to answer two main questions. Does social capital pay off after a natural disaster; and if it does, what type of social capital has the greatest impact on small business resilience? The pay‐off from bridging social capital—receiving support from the community—is what drives both objective and subjective resilience post‐Katrina. The results also show linking capital—support from institutions—can improve economic resilience. Our results provide evidence social capital is a key asset for long‐term resilience for small businesses. Business owners with links to the community and institutions—with more social capital—will be better off when facing a natural disaster.

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“…According to Deryugina et al (2014), damages from Hurricane Katrina included roughly 2000 deaths, destruction of more than 200,000 homes, and property damage of well over $100 billion. The Insurance Information Institute (2010) indicates that insured costs exceeded $40 billion, while federal aid exceeded $100 billion (Kunreuther and Michel-Kerjan 2008).…”

Section: Hurricanes and Other Floodingmentioning

confidence: 99%

Understanding and Mitigating the Impacts of Massive Relocations Due to Disasters

Bier

2017

EconDisCliCha

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We have grown used to thinking of displaced persons as a developing-world problem. However, Hurricane Katrina and the Japanese tsunami/nuclear disaster made clear that even in the developed world people may need to leave their homes due to natural or manmade disasters. This can occur for reasons ranging from nuclear accidents, to natural disasters (e.g., hurricanes), to terrorism (e.g., a major anthrax attack), to climate change (e.g., coastal flooding). In addition to the social consequences of forced relocation, massive relocation can have significant economic costs, including not only property damage, but also business interruption, loss of housing services, and decline of property values. Economic consequences can be expected to be highly nonlinear in both magnitude and duration of relocation. With regard to duration, a brief evacuation may be minimally disruptive, if people are able to return to their homes within a few days. A relocation of a few months or a year would be much more disruptive per day, but eventually, costs per day would diminish or approach zero. By contrast, costs can be expected to increase monotonically but non-linearly in the number of people needing to be relocated. Costs may also vary greatly depending on the nature of the assets that are interdicted. Unfortunately, disasters in populated areas can easily result in the need to relocate a million people or more. This argues for the need for research on interventions to encourage relocation before a disaster in areas under significant threat, and to increase resilience after massive relocations.

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The Economic Impact of Hurricane Katrina on Its Victims: Evidence from Individual Tax Returns

Cited by 163 publications

References 37 publications

Household Finance after a Natural Disaster: The Case of Hurricane Katrina

Household Finance after a Natural Disaster: The Case of Hurricane Katrina

Does social capital pay off? The case of small business resilience after Hurricane Katrina

Understanding and Mitigating the Impacts of Massive Relocations Due to Disasters

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