Publication:
Macroeconomic Modeling of Managing Hurricane Damage in the Caribbean: The Case of Jamaica

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dc.contributor.authorBurns, Andrew
dc.contributor.authorJooste, Charl
dc.contributor.authorSchwerhoff, Gregor
dc.date.accessioned2021-01-07T15:58:25Z
dc.date.available2021-01-07T15:58:25Z
dc.date.issued2021-01
dc.description.abstractThis paper describes a modeling methodology that embeds climate damages from natural disasters and risk management strategies into a macroeconomic model for Jamaica. The modeled damages take the form of capital destruction, and the risk management strategies considered are (i) adaptation investment in hurricane resilient infrastructure, (ii) commercial disaster insurance for the government, (iii) the formation of a contingency fund, and (iv) lower debt via higher future primary balances to create fiscal space for disaster recovery. Different risk management strategies are compared to a baseline of no risk management. The model behavior is estimated empirically on country-specific data. Hurricane damage and the model results are analyzed in deterministic and probabilistic settings, using the historical distribution of damages for Jamaica.en
dc.identifierhttp://documents.worldbank.org/curated/en/593351609776234361/Macroeconomic-Modeling-of-Managing-Hurricane-Damage-in-the-Caribbean-The-Case-of-Jamaica
dc.identifier.doi10.1596/1813-9450-9505
dc.identifier.urihttps://hdl.handle.net/10986/34982
dc.languageEnglish
dc.publisherWorld Bank, Washington, DC
dc.relation.ispartofseriesPolicy Research Working Paper;No. 9505
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo
dc.subjectECONOMIC MODELING
dc.subjectDISASTER RISK MANAGEMENT
dc.subjectHURRICANE DAMAGE
dc.titleMacroeconomic Modeling of Managing Hurricane Damage in the Caribbeanen
dc.title.subtitleThe Case of Jamaicaen
dc.typeWorking Paperen
dc.typeDocument de travailfr
dc.typeDocumento de trabajoes
dspace.entity.typePublication
okr.crossref.titleMacroeconomic Modeling of Managing Hurricane Damage in the Caribbean: The Case of Jamaica
okr.date.disclosure2021-01-04
okr.date.doiregistration2025-04-10T11:29:41.957875Z
okr.doctypePublications & Research::Policy Research Working Paper
okr.doctypePublications & Research
okr.docurlhttp://documents.worldbank.org/curated/en/593351609776234361/Macroeconomic-Modeling-of-Managing-Hurricane-Damage-in-the-Caribbean-The-Case-of-Jamaica
okr.guid593351609776234361
okr.identifier.doi10.1596/1813-9450-9505
okr.identifier.externaldocumentum090224b0881779a7_2_0
okr.identifier.internaldocumentum32724690
okr.identifier.reportWPS9505
okr.importedtrueen
okr.language.supporteden
okr.pdfurlhttp://documents.worldbank.org/curated/en/593351609776234361/pdf/Macroeconomic-Modeling-of-Managing-Hurricane-Damage-in-the-Caribbean-The-Case-of-Jamaica.pdfen
okr.region.administrativeLatin America and Caribbean
okr.region.countryJamaica
okr.statistics.combined2559
okr.statistics.dr593351609776234361
okr.statistics.drstats1584
okr.topicConflict and Development::Disaster Management
okr.topicEnvironment::Natural Disasters
okr.topicUrban Development::Hazard Risk Management
okr.unitMacroeconomics, Trade and Investment Global Practice
relation.isSeriesOfPublication26e071dc-b0bf-409c-b982-df2970295c87
relation.isSeriesOfPublication.latestForDiscovery26e071dc-b0bf-409c-b982-df2970295c87
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