Economic Modeling for Disaster Impact Analysis: Past, Present, and Future

Analyzing economic impacts of disasters has attracted interest from a wide audience in recent years, not only because of the frequent occurrence of large natural disasters worldwide but also because of the spread of terrorism to a global scale. This paper reviews past modeling studies for economic impact analysis of disasters, focusing especially on the input–output model and related modeling frameworks, such as the social accounting matrix and the computable general equilibrium model. The paper also discusses the issues of disaster modeling raised by the literature, and proposes some future directions.