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Taken by Storm: Business Survival in the Aftermath of Hurricane Katrina
RFF Academic Seminar
Presenter
Emek Basker, Associate Professor
Department of Economics
University of Missouri
Abstract
We use Hurricane Katrina's damage to the Mississippi coast in 2005 as a natural experiment to study business survival in the aftermath of a cost shock. We find that damaged establishments that returned to operation were more resilient than those that had never been damaged. This effect is particularly strong for establishments belonging to younger and smaller firms. The effect of damage on establishments in older and larger chains was more limited, and they were subsequently less resilient having survived the damage. These selection effects persist up to five years after the initial shock. We interpret these findings as evidence that the effect of the shock is tied to the presence of financial and other constraints.
Date
Thursday, June 5, 2014
12:00 - 1:30 p.m. EDT
A light lunch will be provided.
Location
7th Floor Conference Room
All seminars will be in the 7th Floor Conference Room at RFF, 1616 P Street NW unless otherwise noted. Attendance is open, but involves pre-registration no later than two days prior to the event. For questions and to register to an event, please contact Karen Furman at furman@rff.org. Updates to our academic seminars schedule will be posted at www.rff.org/academicseminarseries.
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