FEEM Seminar on Adaptation and Natural Disasters
Laura Bakkensen from Yale University addresses in this week’s FEEM seminar the issue of adapting to natural disasters. These events currently cause an average of $98.9 billion dollars of damages and impact 227.5 million people annually. The study analyses the role of adaptation with evidence from tropical cyclones: separate damage and fatality functions per storm are estimated using a new and improved global data set. The empirical results test for and find evidence of adaptation in observed damages and fatalities due to growth in income, population density, and frequent high intensity storms.