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The Short-Run, Dynamic Employment Effects of Natural Disasters: New Insights

Author

Listed:
  • Alessandro Barattieri

    (University of Quebec in Montreal)

  • Patrice Borda

    (Université des Antilles)

  • Alberto Brugnoli

    (University of Bergamo)

  • Martino Pelli

    (University of Sherbrooke)

  • Jeanne Tschopp

    (University of Bern)

Abstract
We study the short-run, dynamic employment effects of natural disasters. We exploit monthly data for over 90 3-digits NAICS industries and 78 Puerto Rican counties over the period 1995-2017. Our exogenous measure of exposure to natural disasters is computed using the maximum wind speed recorded in each county during each hurricane. Using panel local projections, we find that after the "average" hurricane, employment and wages fall by 1% on average. The effects peak after six months and disappear within two years. Across industries, we find substantial heterogeneity in the employment responses. This heterogeneity can be partly explained by input-output linkages.

Suggested Citation

  • Alessandro Barattieri & Patrice Borda & Alberto Brugnoli & Martino Pelli & Jeanne Tschopp, 2021. "The Short-Run, Dynamic Employment Effects of Natural Disasters: New Insights," Working Papers 21-06, Chair in macroeconomics and forecasting, University of Quebec in Montreal's School of Management.
    • Handle: RePEc:bbh:wpaper:21-06
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    File URL: https://chairemacro.esg.uqam.ca/wp-content/uploads/sites/146/manuscriptBBBPT.pdf
    File Function: Revised version, 2020
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    Cited by:

    1. Meier, Sarah & Elliott, Robert J.R. & Strobl, Eric, 2023. "The regional economic impact of wildfires: Evidence from Southern Europe," Journal of Environmental Economics and Management, Elsevier, vol. 118(C).
    2. Naguib, Costanza & Pelli, Martino & Poirier, David & Tschopp, Jeanne, 2022. "The impact of cyclones on local economic growth: Evidence from local projections," Economics Letters, Elsevier, vol. 220(C).

    More about this item

    Keywords

    Natural Disasters; Employment; High-Frequency Data; Local Projections.;
    All these keywords.

    JEL classification:

    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming
    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity

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