Hurricanes, flood risk and the economic adaptation of businesses

Autor:	Taṣpınar, Agustín Indaco, Süleyman, Francesc Ortega
Rok vydání:	2020
Předmět:	Economics and Econometrics 050208 finance Flood myth 05 social sciences Geography Planning and Development Flooding (psychology) Employment growth Climate change Storm Context (language use) Geography Sea level rise 0502 economics and business 050207 economics Socioeconomics Relocation
Zdroj:	Journal of Economic Geography. 21:557-591
ISSN:	1468-2710 1468-2702
Popis:	We use administrative data containing all business establishments in New York City to analyze how businesses reacted to flooding in the context of Hurricane Sandy (October 2012). We find that flooding led to reductions in employment (of about 4%) and average wages (of about 2%) among the affected businesses. The effects were substantially larger and more persistent in some parts of the city (Brooklyn and Queens) than others (Manhattan). Heterogeneity across boroughs reflects differences in the severity of flooding, building types and industry composition. The effects of flooding also vary by industry and businesses in sectors involved in rebuilding after the storm experienced employment growth. Flooding also led to establishment closings and relocation to other neighborhoods, which is a form of adaptation to increased flood risk.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::7558145345fff69857b6ff3448df4ae5 https://doi.org/10.1093/jeg/lbaa020 Zobrazit plný text záznamu