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| Tekijä: | Hallström, D.G. Smith, V.K. |
| Otsikko: | Market responses to hurricanes |
| Lehti: | Journal of Environmental Economics and Management
2005 : NOV, VOL. 50:3, p. 541-561 |
| Asiasana: | environmental damage housing property sales USA |
| Kieli: | eng |
| Tiivistelmä: | This article 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. The authors suggest that Andrew conveyed a risk information to homeowners in Lee County, Florida, where the storm was a "near-miss". A difference-in-differences (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. |
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