<div class="csl-bib-body">
<div class="csl-entry">Strulik, H., & Trimborn, T. (2018). Natural Disasters and Macroeconomic Performance. <i>Environmental and Resource Economics : The Official Journal of the European Association of Environmental and Resource Economists</i>, <i>72</i>, 1069–1098. https://doi.org/10.1007/s10640-018-0239-7</div>
</div>
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dc.identifier.issn
0924-6460
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dc.identifier.uri
http://hdl.handle.net/20.500.12708/84
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dc.description.abstract
Recent empirical research has shown that output and GDP per capita in the after-math of natural disasters are not necessarily lower than before the event. In many cases,both are not significantly affected and, surprisingly, sometimes they are found to respondpositively to natural disasters. Here, we propose a novel economic theory that explains theseobservations. Specifically, we show that GDP is driven above its pre-shock level when naturaldisasters destroy predominantly durable consumption goods (cars, furniture, etc.). Disastersdestroying mainly productive capital, in contrast, are predicted to reduce GDP. Insignificantresponses of GDP can be expected when disasters destroy both, durable goods and productivecapital. We extend the model by a residential housing sector and show that disasters may alsohave an insignificant impact on GDP when they destroy residential houses and durable goods.We show that disasters, irrespective of whether their impact on GDP is positive, negative, orinsignificant, entail considerable losses of aggregate welfare.
en
dc.language
English
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dc.language.iso
en
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dc.publisher
SPRINGER
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dc.relation.ispartof
Environmental and Resource Economics : The Official Journal of the European Association of Environmental and Resource Economists
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dc.rights.uri
http://creativecommons.org/licenses/by/4.0/
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dc.subject
Natural disasters
en
dc.subject
Economic recovery
en
dc.subject
Durable goods
en
dc.subject
Residential housing
en
dc.subject
Economic growth
en
dc.title
Natural Disasters and Macroeconomic Performance
en
dc.type
Article
en
dc.type
Artikel
de
dc.rights.license
Creative Commons Namensnennung 4.0 International
de
dc.rights.license
Creative Commons Attribution 4.0 International
en
dc.contributor.affiliation
University of Goettingen, Germany
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dc.description.startpage
1069
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dc.description.endpage
1098
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dc.rights.holder
The Author(s) 2018
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dc.type.category
Original Research Article
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tuw.container.volume
72
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tuw.journal.peerreviewed
true
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tuw.peerreviewed
true
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tuw.version
vor
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dcterms.isPartOf.title
Environmental and Resource Economics : The Official Journal of the European Association of Environmental and Resource Economists
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tuw.publication.orgunit
E105 - Institut für Stochastik und Wirtschaftsmathematik
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tuw.publisher.doi
10.1007/s10640-018-0239-7
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dc.identifier.eissn
1573-1502
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dc.identifier.libraryid
AC15321024
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dc.description.numberOfPages
30
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dc.identifier.urn
urn:nbn:at:at-ubtuw:3-5089
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dc.rights.identifier
CC BY 4.0
de
dc.rights.identifier
CC BY 4.0
en
item.openaccessfulltext
Open Access
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item.openairetype
research article
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item.openairecristype
http://purl.org/coar/resource_type/c_2df8fbb1
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item.fulltext
with Fulltext
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item.cerifentitytype
Publications
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item.languageiso639-1
en
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item.grantfulltext
open
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crisitem.author.dept
University of Goettingen, Germany
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crisitem.author.dept
E105 - Institut für Stochastik und Wirtschaftsmathematik