Journal Article

Measuring the initial economic effects of hurricanes on commercial fish production: the US Gulf of Mexico grouper (Serranidae) fishery

Letson, David, Perruso, Larry, Stoffle, Brent, del Corral, Julio, Solís, Daniel

2013

Overview

A stochastic production frontier was used to measure the initial (i.e., bi-weekly) economic effects of hurricanes on commercial grouper ( Serranidae ) production in the Exclusive Economic Zone of the United States Gulf of Mexico from 2005 to 2009. We estimated the economic effects of productivity losses associated with specific hurricanes on the commercial grouper fleet. We also calculated the economic effects due to productivity losses during an entire hurricane season at the regional level. The empirical model controls for input levels as well as other factors affecting production to isolate the initial economic effect caused by hurricanes from other non-weather-related factors. The empirical results revealed that hurricanes striking the Gulf of Mexico coastline from 2005 to 2009 had a negative effect on the production of the commercial grouper fleet. The results also demonstrated the relative importance of inputs and regulations on fish production.

• Publisher: Springer Netherlands,Springer,Springer Nature B.V
• Subject: Civil Engineering / Coastlines / Commercial fishing / Earth and Environmental Science / Earth Sciences / Earth, ocean, space / Economic impact / Economics / Empirical analysis / Empirical models / Engineering and environment geology. Geothermics / Environmental Management / Exact sciences and technology / Exclusive economic zones / Fish / Fish production / Fisheries / Geophysics/Geodesy / Geotechnical Engineering & Applied Earth Sciences / Gulf of Mexico / Hurricanes / Hydrogeology / Marine / Marine fishes / Mathematical models / Natural Hazards / Natural hazards: prediction, damages, etc / Original Paper / Production / Productivity / Regulation / Serranidae / United States / Weather / Weekly