Natural Disasters are not like Recessions

In natural disasters:

1. Net migration temporarily collapses.
Screenshot (6)
2. Per capita income rises (due to the poorest people leaving).
Screenshot (5)
3. Unemployment is elevated for under a year.
Screenshot (7)
In recessions:

1. Net migration falls, though not necessarily into negative territory.

2. Per capita income falls.
Screenshot (8)
3. Unemployment is persistently elevated for well over a year (see above).

Inspired by Scott Sumner.


Author: pithom

An atheist with an interest in the history of the ancient Near East. Author of the Against Jebel al-Lawz Wordpress blog.

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