The Impact of Earthquake on Apartment Price : Focused on Gyeongju Earthquake Case in South Korea

Weon, Yeom Jae; Jung, Juchul

doi:10.17208/jkpa.2019.02.54.1.148

Cited by 3 publications

(1 citation statement)

References 17 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…Many works have focused on estimating the economic effects of disasters using analytical simulation models (Greenberg et al., 2007; Okuyama, 2007; Okuyama & Santos, 2014; Lee and Moon, 2019; Yeom and Jung, 2019; Yang and Yoon, 2020; Jang et al, 2021; Shin et al, 2021; Hwang and Yoo, 2022). The input‐output (IO) model and the computable general equilibrium (CGE) model have been widely used in assessing economic loss from damage in Table 1.…”

Section: Literature Reviewsmentioning

confidence: 99%

Analyzing indirect economic impacts of wildfire damages on regional economies

Kim

Kwon

2023

Risk Analysis

View full text Add to dashboard Cite

This article estimates the economic impacts of wildfire damage on Korea's regional economies, developing an integrated disaster‐economic system for Korea. The system is composed of four modules: an interregional computable general equilibrium (ICGE) model for the eastern mountain area (EMA) and the rest of Korea, a Bayesian wildfire model, a transportation demand model, and a tourist expenditure model. The model has a hierarchical structure, with the ICGE model serving as a core module to link to three other modules. In the impact analysis of a wildfire, three external shocks are injected into the ICGE model: (1) the wildfire damaged area derived from the Bayesian wildfire model, (2) changes in travel times among cities and counties derived from the transportation demand model, and (3) variations in visitors’ expenditures derived from the tourist expenditure model. The simulation shows that the gross regional product (GRP) of the EMA would decrease by 0.25% to 0.55% without climate change and by 0.51%–1.23% with climate change. This article contributes to the development of quantitative linkages between macro and micro spatial models in a bottom‐up system for the impact analysis of disasters, integrating a regional economic model with a place‐based disaster model and the demands of tourism and transportation.

show abstract