JimPethokoukis: I will be on CNBC at 11:10 talking about economic impact of natural disasters … Set your DVRs accordingly
JimPethokoukis: @SissyWillis You win the Nobel Prize for Economics today, exactly right
JimPethokoukis: I am talking about a catalyst for new policies
JimPethokoukis: This is different than Broken Window, that is just shifting around $
JimPethokoukis: Economic of earthquakes: Skidmore/Toya conclude creative destruction dynamic only occurs in high per-capita income countries
JimPethokoukis: 2002 Skidmore-Toya study (2002) suggests disasters may be speeding up the Schumpeterian “creative destruction” process
JimPethokoukis: Study: You are 10x more likely to be killed in a natural disaster in Africa than North America or Europe
JimPethokoukis: Study: Disasters provide “impetus to update the capital stock …. adopt new technologies ” = better productivity”
JimPethokoukis: But major study found that climactic disasters can be OK for long-run growth, not geologic disasters
JimPethokoukis: Do natural disasters stimulate economic growth? Near-term stimulus a wash, but can clear way for better infrastructure,
