Adam Rose & Dan Wei – Modeling Economic Resilience to Disasters

[Slides]Modeling Economic Resilience to Disasters – Adam Rose & Dan Wei, USC

[Recording]Modeling Economic Resilience to Disasters – Adam Rose & Dan Wei, USC

Disasters can cause both severe property damage and business interruption. Various resilience tactics can be implemented by infrastructure providers and businesses to promote the continuity of their operations once the disaster strikes. These responses can help prevent the collapse of the regional economy.

REMI invites you to our guest webinar, “Modeling Economic Resilience to Disasters,” on Wednesday, June 12th from 2 to 3 p.m. (ET) that will be presented by Adam Rose and Dan Wei, research fellows at the University of Southern California Center for Risk and Economic Analysis of Terrorism Events (CREATE). Their discussion details the importance of economic resilience, which refers to the ability to promote business continuity in an efficient manner and accelerate recovery after disaster strikes.

Both Dr. Rose and Dr. Wei have extensive experience with the REMI PI+ model and with various models that analyze the economic consequences of and resilience to terrorism and natural disasters. The researchers will present an analytical framework for assessing resilience in the context of the REMI model, which includes basic definitions of resilience, specification of a resilience metric, descriptions of various resilience tactics, and the cost-effectiveness of these tactics revealed by a recent survey of Hurricane Harvey victims.

Our guest speakers will illustrate their approach through the simulation of various resilience tactics applicable to a seaport disruption.

Their presentation also provides detailed specification of the steps required to incorporate some of the resilience tactics into REMI’s economic modeling software and ways to estimate the effect of other tactics through various side-calculations that adjust direct disaster impacts that are input into the model and by adjusting model outputs.

Aaron McGregor – Economic Impacts of Sea-Level Rise and Coastal Storms

[Slides]Economic Impact of Sea-Level Rise and Coastal Storms – Aaron McGregor, AECOM

[Recording]Economic Impacts of Sea-Level Rise and Coastal Storms – Aaron McGregor, AECOM

Rising sea levels and severe storms pose significant economic risk to coastal regions. The engineering firm AECOM worked with Broward County, Florida to assess damages on the Dania Beach business community and to quantify the potential costs and benefits of proposed adaptation strategies.

REMI cordially invites you to a guest webinar presentation on Wednesday, May 15th from 2 to 3 p.m. (ET) by Aaron McGregor, an Economist and Senior Associate at AECOM, who will discuss the study.

The analysis was conducted using three core methods: a direct damages model to assess local impacts to Dania Beach, the REMI PI+ model to quantify the direct and indirect impacts of different action scenarios on Broward County and the rest of Florida, and a local survey to assess risk perception, vulnerabilities, and the adaptive capacity of the local business community. Broward County is using the study’s findings to inform ongoing policy discussions related to future project prioritization, development, and implementation.

For the presentation, Mr. McGregor will review the findings and discuss the methodologies behind the analysis.

The Green New Deal
The Role of Analysis

[Slides]The Green New Deal: The Role of Analysis – Peter Evangelakis, REMI

[Recording]The Green New Deal: The Role of Analysis – Peter Evangelakis, REMI

The Green New Deal proposes a number of ambitious goals for reducing greenhouse gas emissions and addressing other environmental and social challenges. To transform these ideas into policy, though, vigorous economic analysis is required.

REMI invites you to join Senior Economist Peter Evangelakis, Ph.D. for a webinar presentation on Wednesday, May 1st from 2 to 3 p.m. (ET) titled “The Green New Deal: The Role of Analysis.”

For his presentation, Dr. Evangelakis will review the major points of the proposed Congressional resolution and establish the national- and state-level political context. He will consider different policies that could advance the Green New Deal’s goals – such as carbon taxes and promotion of hybrid cars – and discuss how to assess these ideas using dynamic economic analysis.