The Impact of Tornadoes and Damaging Winds on County-Level Income Growth in the United States
Abstract This study investigated the economic impact of tornadoes and damaging winds on county-level income growth in the United States from 1969 to 2023. Using a fixed effect regression methodology, the analysis showed that an average damaging storm and an average tornado reduced income growth in t...
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| Format: | Article |
| Language: | English |
| Published: |
SpringerOpen
2024-12-01
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| Series: | International Journal of Disaster Risk Science |
| Subjects: | |
| Online Access: | https://doi.org/10.1007/s13753-024-00605-2 |
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| Summary: | Abstract This study investigated the economic impact of tornadoes and damaging winds on county-level income growth in the United States from 1969 to 2023. Using a fixed effect regression methodology, the analysis showed that an average damaging storm and an average tornado reduced income growth in the affected counties by 0.16–0.23% and 0.21–0.23%, respectively, translating into a one-time growth loss of approximately USD 5.6 million and USD 6.3 million. The findings also indicate that tornadoes have a 20% greater economic impact than damaging winds. This study underscored the unique challenges posed by tornadoes and damaging winds, which are characterized by their unpredictable nature and concentrated but extreme damage. |
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| ISSN: | 2095-0055 2192-6395 |