World Scientific
  • Search
Skip main navigation

Cookies Notification

We use cookies on this site to enhance your user experience. By continuing to browse the site, you consent to the use of our cookies. Learn More

System Upgrade on Tue, May 28th, 2024 at 2am (EDT)

Existing users will be able to log into the site and access content. However, E-commerce and registration of new users may not be available for up to 12 hours.
For online purchase, please visit us again. Contact us at [email protected] for any enquiries.


    This study examines the economic impacts of US hurricanes. The major conclusions are the following: First, there are substantial vulnerabilities to intense hurricanes in the Atlantic coastal United States. Damages appear to rise with the ninth power of maximum wind speed. Second, greenhouse warming is likely to lead to stronger hurricanes, but the evidence on hurricane frequency is unclear. We estimate that the average annual US hurricane damages will increase by $10 billion at 2005 incomes (0.08 percent of GDP) due to global warming. However, this number may be underestimated by current storm models. Third, 2005 appears to have been a quadruple hurricane outlier, involving a record number of North Atlantic tropical cyclones, a large fraction of intense storms, a large fraction of the intense storms making landfall in the United States, and an intense storm hitting the most vulnerable high-value region in the country.

    This study was presented at the Annual Meetings of the American Economic Association, Boston, Massachusetts, January, 2006; the Snowmass Workshop on Abrupt and Catastrophic Climate Change, Snowmass, Colorado, July–August, 2006; the Yale Workshop on Environmental Economics; and a Cowles Foundation Seminar.


    Remember to check out the Most Cited Articles!

    Be inspired by these New titles in Energy, Resource & Environmental Economics today.
    Featuring authors from Princeton, Columbia University, Imperial College Business School and many more!