Thinking about Imbalances in Post-catastrophe Economies: An Input-Output based Proposition

Steenge, Albert E. and Bockarjova, Marija (2007) Thinking about Imbalances in Post-catastrophe Economies: An Input-Output based Proposition. Economic Systems Research, 19 (2). pp. 205-223. ISSN 0953-5314

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Abstract:	In this paper we focus on the consequences of a major catastrophe for a modern economy, where ‘major’ means that a significant part of the economy’s productive capacity is lost. In the aftermath of the catastrophe, authorities have to address a great number of issues. We show, using basic principles, that input–output methodology offers a flexible set of tools to address three fundamental issues: (1) obtaining a systematic insight in the imbalances that exist in the non-affected area after the catastrophe, (2) determining the nature of these imbalances and the way they affect options in the recovery process, and (3) introducing the elements of a costbenefit analysis in the context of prevention and precautionary policies. Our approach strongly supports the need for extensive contingency planning in the presence of major natural hazards. A numerical example accompanies the various steps of the exercise.
Item Type:	Article
Copyright:	© 2007 Routledge
Research Group:	Legal and Economic Governance Studies (LeGS)
Link to this item:	http://purl.utwente.nl/publications/69625
Official URL:	http://dx.doi.org/10.1080/09535310701330308
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