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

Author

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  • Albert E. Steenge
  • Marija Bockarjova

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 cost-benefit 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.

Suggested Citation

  • Albert E. Steenge & Marija Bockarjova, 2007. "Thinking about Imbalances in Post-catastrophe Economies: An Input-Output based Proposition," Economic Systems Research, Taylor & Francis Journals, vol. 19(2), pages 205-223.
    • Handle: RePEc:taf:ecsysr:v:19:y:2007:i:2:p:205-223
    DOI: 10.1080/09535310701330308
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    Cited by:

    1. Xi Hu & Raghav Pant & Jim W. Hall & Swenja Surminski & Jiashun Huang, 2019. "Multi-Scale Assessment of the Economic Impacts of Flooding: Evidence from Firm to Macro-Level Analysis in the Chinese Manufacturing Sector," Sustainability, MDPI, vol. 11(7), pages 1-18, April.
    2. Safarzyńska, Karolina & Brouwer, Roy & Hofkes, Marjan, 2013. "Evolutionary modelling of the macro-economic impacts of catastrophic flood events," Ecological Economics, Elsevier, vol. 88(C), pages 108-118.
    3. Zhou, Lijuan & Zhang, Ruchuan & Zhang, Aizhen & Li, Miao & Li, Aijun, 2024. "Understanding the role of energy sector in the outbreak of epidemic in China: An analysis based on SEIDR epidemic model, dynamic input-output model and resource allocation DEA model," Energy, Elsevier, vol. 305(C).
    4. Pichler, Anton & Pangallo, Marco & del Rio-Chanona, R. Maria & Lafond, François & Farmer, J. Doyne, 2022. "Forecasting the propagation of pandemic shocks with a dynamic input-output model," Journal of Economic Dynamics and Control, Elsevier, vol. 144(C).
    5. Yagi, Michiyuki & Managi, Shunsuke, 2023. "The spillover effects of rising energy prices following 2022 Russian invasion of Ukraine," Economic Analysis and Policy, Elsevier, vol. 77(C), pages 680-695.
    6. Manfred Lenzen & Mengyu Li & Arunima Malik & Francesco Pomponi & Ya-Yen Sun & Thomas Wiedmann & Futu Faturay & Jacob Fry & Blanca Gallego & Arne Geschke & Jorge Gómez-Paredes & Keiichiro Kanemoto & St, 2020. "Global socio-economic losses and environmental gains from the Coronavirus pandemic," PLOS ONE, Public Library of Science, vol. 15(7), pages 1-13, July.
    7. Jing-Li Fan & Qiao-Mei Liang & Xiao-Jie Liang & Hirokazu Tatano & Yoshio Kajitani & Yi-Ming Wei, 2014. "National vulnerability to extreme climatic events: the cases of electricity disruption in China and Japan," Natural Hazards: Journal of the International Society for the Prevention and Mitigation of Natural Hazards, Springer;International Society for the Prevention and Mitigation of Natural Hazards, vol. 71(3), pages 1937-1956, April.
    8. Krista Danielle S. Yu & Raymond R. Tan & Kathleen B. Aviso & Michael Angelo B. Promentilla & Joost R. Santos, 2014. "A Vulnerability Index For Post-Disaster Key Sector Prioritization," Economic Systems Research, Taylor & Francis Journals, vol. 26(1), pages 81-97, March.
    9. Ana Camarasa-Belmonte & D. Butrón, 2015. "Estimation of flood risk thresholds in Mediterranean areas using rainfall indicators: case study of Valencian Region (Spain)," Natural Hazards: Journal of the International Society for the Prevention and Mitigation of Natural Hazards, Springer;International Society for the Prevention and Mitigation of Natural Hazards, vol. 78(2), pages 1243-1266, September.
    10. Gulay Gunluk-Senesen & Umit Senesen, 2011. "Decomposition Of Labour Demand By Employer Sectors And Gender: Findings For Major Exporting Sectors In Turkey," Economic Systems Research, Taylor & Francis Journals, vol. 23(2), pages 233-253.
    11. Michiyuki Yagi & Shigemi Kagawa & Shunsuke Managi & Hidemichi Fujii & Dabo Guan, 2020. "Supply Constraint from Earthquakes in Japan in Input–Output Analysis," Risk Analysis, John Wiley & Sons, vol. 40(9), pages 1811-1830, September.
    12. Balakrishnan, Srijith & Lim, Taehoon & Zhang, Zhanmin, 2022. "A methodology for evaluating the economic risks of hurricane-related disruptions to port operations," Transportation Research Part A: Policy and Practice, Elsevier, vol. 162(C), pages 58-79.
    13. Trond G. Husby & Elco E. Koks, 2017. "Household migration in disaster impact analysis: incorporating behavioural responses to risk," Natural Hazards: Journal of the International Society for the Prevention and Mitigation of Natural Hazards, Springer;International Society for the Prevention and Mitigation of Natural Hazards, vol. 87(1), pages 287-305, May.
    14. Christopher Burgess & Michael Taylor & Tannecia Stephenson & Arpita Mandal & Leiska Powell, 2015. "A macro-scale flood risk model for Jamaica with impact of climate variability," Natural Hazards: Journal of the International Society for the Prevention and Mitigation of Natural Hazards, Springer;International Society for the Prevention and Mitigation of Natural Hazards, vol. 78(1), pages 231-256, August.
    15. Hu, Xi & Pant, Raghav & Hall, Jim W. & Surminski, Swenja & Huang, Jiashun, 2019. "Multi-scale assessment of the economic impacts of flooding: evidence from firm to macro-level analysis in the Chinese manufacturing sector," LSE Research Online Documents on Economics 100534, London School of Economics and Political Science, LSE Library.
    16. Erik Dietzenbacher & Manfred Lenzen & Bart Los & Dabo Guan & Michael L. Lahr & Ferran Sancho & Sangwon Suh & Cuihong Yang, 2013. "Input--Output Analysis: The Next 25 Years," Economic Systems Research, Taylor & Francis Journals, vol. 25(4), pages 369-389, December.
    17. H. Moel & B. Jongman & H. Kreibich & B. Merz & E. Penning-Rowsell & P. Ward, 2015. "Flood risk assessments at different spatial scales," Mitigation and Adaptation Strategies for Global Change, Springer, vol. 20(6), pages 865-890, August.
    18. Yagi, Michiyuki & Managi, Shunsuke, 2021. "Global supply constraints from the 2008 and COVID-19 crises," Economic Analysis and Policy, Elsevier, vol. 69(C), pages 514-528.
    19. K. Jenkins, 2013. "Indirect economic losses of drought under future projections of climate change: a case study for Spain," Natural Hazards: Journal of the International Society for the Prevention and Mitigation of Natural Hazards, Springer;International Society for the Prevention and Mitigation of Natural Hazards, vol. 69(3), pages 1967-1986, December.
    20. Dabo Guan & Daoping Wang & Stephane Hallegatte & Steven J. Davis & Jingwen Huo & Shuping Li & Yangchun Bai & Tianyang Lei & Qianyu Xue & D’Maris Coffman & Danyang Cheng & Peipei Chen & Xi Liang & Bing, 2020. "Global supply-chain effects of COVID-19 control measures," Nature Human Behaviour, Nature, vol. 4(6), pages 577-587, June.
    21. Amrita Goldar & Sajal Jai & Diya Dasgupta, 2024. "Estimating loss and damage from climate-induced disasters: An Evaluation using ICRIER 'Prakriti' Model," Indian Council for Research on International Economic Relations (ICRIER) Working Paper 422, Indian Council for Research on International Economic Relations (ICRIER), New Delhi, India.

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