{"id":664906,"date":"2010-02-15T15:07:38","date_gmt":"2010-02-15T20:07:38","guid":{"rendered":"tag:http:\/\/www.economist.com,2009:21004840"},"modified":"2010-02-15T15:07:38","modified_gmt":"2010-02-15T20:07:38","slug":"even-worse-than-we-thought","status":"publish","type":"post","link":"https:\/\/mereja.com\/index\/664906","title":{"rendered":"Even worse than we thought"},"content":{"rendered":"

EDUARDO CAVALLO, Andrew Powell, and Oscar Becerra, three economists at the Inter-American Development Bank have a new paper that tries to quantify the damage caused by last month’s earthquake in Haiti.<\/p>\n

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Using worldwide data from about 2000 natural catastrophic events between 1970 and 2008 … we model the dollar amount of damage of each event as a function of the number of deaths or missing, the level of economic development (real GDP per capita), country size, regional dummies, and a linear trend. Using these regression results we make out-of-sample predictions regarding the estimated dollar amount of damages that can be expected for a country with Haiti\u2019s economic and demographic characteristics in the aftermath of the catastrophic earthquake of January 12th. <\/p>\n<\/blockquote>\n

Their results suggest that reconstructing Haiti’s infrastructure after the quake will cost at least $7.2 billion (though their best guess, based on what is known about the death toll, is $8.1 billion). These are enormous numbers compared, for instance, with World Bank aid of $100m announced immediately after the quake. The paper’s results suggest that much more will be needed, and that co-ordination between agencies will be crucial.<\/p>\n","protected":false},"excerpt":{"rendered":"

EDUARDO CAVALLO, Andrew Powell, and Oscar Becerra, three economists at the Inter-American Development Bank have a new paper that tries to quantify the damage caused by last month’s earthquake in Haiti. Using worldwide data from about 2000 natural catastrophic events between 1970 and 2008 … we model the dollar amount of damage of each event […]<\/p>\n","protected":false},"author":3736,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4821],"tags":[],"class_list":["post-664906","post","type-post","status-publish","format-standard","hentry","category-news"],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9NivD-2MYi","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/mereja.com\/index\/wp-json\/wp\/v2\/posts\/664906","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.com\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.com\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.com\/index\/wp-json\/wp\/v2\/users\/3736"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.com\/index\/wp-json\/wp\/v2\/comments?post=664906"}],"version-history":[{"count":0,"href":"https:\/\/mereja.com\/index\/wp-json\/wp\/v2\/posts\/664906\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.com\/index\/wp-json\/wp\/v2\/media?parent=664906"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.com\/index\/wp-json\/wp\/v2\/categories?post=664906"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.com\/index\/wp-json\/wp\/v2\/tags?post=664906"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}