Collalti, Dino; Strobl, Eric (2021). Economic damages due to extreme precipitation during tropical storms: evidence from Jamaica. Natural Hazards, 110(3), pp. 2059-2086. Springer 10.1007/s11069-021-05025-9
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This study investigates economic damage risk due to extreme rainfall during tropical storms in Jamaica. To this end, remote sensing precipitation data are linked to regional damage data for five storms. Extreme value modelling of precipitation is combined with an estimated damage function and satellite-derived nightlight intensity to estimate local risk in monetary terms. The results show that variation in maximum rainfall during a storm significantly contributes to parish level damages even after controlling for local wind speed. For instance, the damage risk for a 20 year rainfall event in Jamaica is estimated to be at least 238 million USD, i.e. about 1.5% of Jamaica’s yearly GDP.
Item Type: |
Journal Article (Original Article) |
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Division/Institute: |
03 Faculty of Business, Economics and Social Sciences > Department of Economics 10 Strategic Research Centers > Oeschger Centre for Climate Change Research (OCCR) 03 Faculty of Business, Economics and Social Sciences > Department of Economics > Institute of Economics |
UniBE Contributor: |
Collalti, Dino, Strobl, Eric Albert |
Subjects: |
300 Social sciences, sociology & anthropology > 330 Economics 600 Technology > 650 Management & public relations |
ISSN: |
0921-030X |
Publisher: |
Springer |
Language: |
English |
Submitter: |
Dino Collalti |
Date Deposited: |
28 Dec 2021 09:29 |
Last Modified: |
05 Dec 2022 15:53 |
Publisher DOI: |
10.1007/s11069-021-05025-9 |
BORIS DOI: |
10.48350/160380 |
URI: |
https://boris.unibe.ch/id/eprint/160380 |
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