Economic diversification and the resiliency hypothesis: Evidence from the impact of natural disasters on regional housing values

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...

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Detalles Bibliográficos
Autores principales: Coulson, N. Edward, McCoy, Shawn J., McDonough, Ian K.
Formato: Online Artículo Texto
Lenguaje:English
Publicado: Elsevier B.V. 2020
Materias:
Article
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7456524/
https://www.ncbi.nlm.nih.gov/pubmed/32904457
http://dx.doi.org/10.1016/j.regsciurbeco.2020.103581
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author Coulson, N. Edward
McCoy, Shawn J.
McDonough, Ian K.
author_facet Coulson, N. Edward
McCoy, Shawn J.
McDonough, Ian K.
author_sort Coulson, N. Edward
collection PubMed
description 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.
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spelling pubmed-74565242020-08-31 Economic diversification and the resiliency hypothesis: Evidence from the impact of natural disasters on regional housing values Coulson, N. Edward McCoy, Shawn J. McDonough, Ian K. Reg Sci Urban Econ Article 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. Elsevier B.V. 2020-11 2020-08-30 /pmc/articles/PMC7456524/ /pubmed/32904457 http://dx.doi.org/10.1016/j.regsciurbeco.2020.103581 Text en © 2020 Elsevier B.V. All rights reserved. Since January 2020 Elsevier has created a COVID-19 resource centre with free information in English and Mandarin on the novel coronavirus COVID-19. The COVID-19 resource centre is hosted on Elsevier Connect, the company's public news and information website. Elsevier hereby grants permission to make all its COVID-19-related research that is available on the COVID-19 resource centre - including this research content - immediately available in PubMed Central and other publicly funded repositories, such as the WHO COVID database with rights for unrestricted research re-use and analyses in any form or by any means with acknowledgement of the original source. These permissions are granted for free by Elsevier for as long as the COVID-19 resource centre remains active.
spellingShingle Article
Coulson, N. Edward
McCoy, Shawn J.
McDonough, Ian K.
Economic diversification and the resiliency hypothesis: Evidence from the impact of natural disasters on regional housing values
title Economic diversification and the resiliency hypothesis: Evidence from the impact of natural disasters on regional housing values
title_full Economic diversification and the resiliency hypothesis: Evidence from the impact of natural disasters on regional housing values
title_fullStr Economic diversification and the resiliency hypothesis: Evidence from the impact of natural disasters on regional housing values
title_full_unstemmed Economic diversification and the resiliency hypothesis: Evidence from the impact of natural disasters on regional housing values
title_short Economic diversification and the resiliency hypothesis: Evidence from the impact of natural disasters on regional housing values
title_sort economic diversification and the resiliency hypothesis: evidence from the impact of natural disasters on regional housing values
topic Article
url https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7456524/
https://www.ncbi.nlm.nih.gov/pubmed/32904457
http://dx.doi.org/10.1016/j.regsciurbeco.2020.103581
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