Economic Diversification and the Resiliency Hypothesis: Evidence from the Impact of Natural Disasters on Regional Housing Values
Document Type
Article
Publication Date
8-30-2020
Publication Title
Regional Science and Urban Economics
Volume
85
First page number:
1
Last page number:
17
Abstract
We estimate the effect regional economic diversification has on the resiliency of the U.S. housing market, treating the spatial and temporal variation in natural disasters as exogenous shocks to regional economies. Our study demonstrates that diversity dampens both the magnitude and the duration of the effects of a disaster on local real estate values. Implications of our findings for the potential benefits of diversification in regional economies are discussed.
Keywords
Resiliency; Natural Disasters; Housing Prices
Disciplines
Economics | Regional Economics | Social and Behavioral Sciences
Language
English
Repository Citation
Coulson, N. E.,
McCoy, S. J.,
McDonough, I. K.
(2020).
Economic Diversification and the Resiliency Hypothesis: Evidence from the Impact of Natural Disasters on Regional Housing Values.
Regional Science and Urban Economics, 85
1-17.
http://dx.doi.org/10.1016/j.regsciurbeco.2020.103581