Catastrophe-induced Destruction and Reconstruction

De Silva, Dakshina G. and Kruse, Jamie B. and Wang, Yongsheng (2006) Catastrophe-induced Destruction and Reconstruction. Natural Hazards Review, 7 (1). pp. 19-25. ISSN 1527-6996

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Abstract

This study examines the destruction caused by the May 3, 1999 Oklahoma City tornado and the rebuilding process using panel data techniques. The results indicate that, within 3 years, the average property value of the damaged cohort exceeded the undamaged group. We use a unique data set that includes individual Fujita-scale damage assessments from Texas Tech University in conjunction with estimates of market value provided by the Oklahoma County Tax Assessor. We estimate the relationship between the Fujita-scale damage assessment and the monetary loss in market value. Our results suggest that the greatest opportunity to reduce monetary losses from tornado damage is for low-intensity tornadoes. Further, at damage ratings of F1 and higher, research should be directed toward life safety measures.

Item Type:
Journal Article
Journal or Publication Title:
Natural Hazards Review
Uncontrolled Keywords:
/dk/atira/pure/subjectarea/asjc/3300
Subjects:
ID Code:
52470
Deposited By:
Deposited On:
08 Feb 2012 09:18
Refereed?:
Yes
Published?:
Published
Last Modified:
25 Feb 2020 07:00