Measuring impacts of extreme weather events using the life satisfaction approach

• Autores: Charlotte von Möllendorff, Jesko Hirschfeld
• Localización: Ecological Economics, ISSN-e 1873-6106, Nº. 121, 2016, págs. 108-116
• Idioma: inglés
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• Resumen

  • Extreme weather events cause harm among the aggrieved party that often goes beyond material damages. This paper studies the impact of extreme weather events on measures of self-reported life satisfaction. Focusing on Germany, we use representative panel data for 2000–2011 to study the effect of seven storm & hail events and five floods on subjective well-being in the affected NUTS 3 regions. Our results indicate that both weather experiences bear statistically significant negative externalities. Following an extreme weather event, life satisfaction is reduced by 0.020–0.027 on the 11-point scale. While the effect of storm & hail events is rather immediate in nature, the effect from floods persists much longer.