Hurricane Michael Impact on Bay County, Florida Home Prices

摘要

This paper expands the climate economics literature by detennining the impact of Hurricane Michael on the Bay County, Florida home sales prices using an equilibrium displacement model. The results provide evidence of $35,584,042.60 of collective property value lost by homeowners. Under the assumption that governments provide relief of a quarter to a third of damages, $8,896,010.65 to $11,742,734.06 would need to be provided to remain consistent with past relief. Further, a 15 percent deadweight loss assumption yields $1,334,401.60 to $1,761,410.11 of that aid being lost. Policymakers can use this information in designing relief packages.