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Flood Damage Avoided by Potential Spending on Property-Level Adaptations: Working Paper 2024-03

Author

Listed:
  • Evan Herrnstadt
  • Jared Jageler

Abstract

This working paper provides an estimate of the potential damage avoided from spending by governments and homeowners on property-level flood risk adaptations, primarily buyouts and elevations. The literature on that topic offers some estimates, but they are difficult to compare and apply across contexts because they analyze different adaptation measures, cover different geographic scopes, and use different modeling approaches. To provide a set of internally consistent estimates, therefore, we develop a nationwide framework using inland and coastal residential properties that

Suggested Citation

  • Evan Herrnstadt & Jared Jageler, 2024. "Flood Damage Avoided by Potential Spending on Property-Level Adaptations: Working Paper 2024-03," Working Papers 58168, Congressional Budget Office.
    • Handle: RePEc:cbo:wpaper:58168
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    File URL: https://www.cbo.gov/system/files/2024-05/58168-Flood-Adaptation.pdf
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    More about this item

    JEL classification:

    • H84 - Public Economics - - Miscellaneous Issues - - - Disaster Aid
    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming
    • Q58 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Government Policy

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