Hurricane Katrina Struck The Goal Coast In August 2005.

Hurricane Katrina struck the Goal Coast in August 2005. Approximately 1.5 million adults evacuated from their homes. The hurricane caused an excess of $96 billion of property damage and more than 1,800 deaths (Groen and Polivka, 2010). The immensity of the forced migration and damage to the region merits studying Hurricane Katrina’s effects on evacuees. We focus our analysis on the return migration decision, as this decision is essential in understanding the well-being of evacuees as well as changes in the social and economic structure of the areas struck by the hurricane. We do not attempt an exhaustive analysis, but we single out and discuss those factors, which through investigation of the literature, were major determinants of return†¦show more content†¦We must pay particular attention to the potentially immense costs of returning, which include both direct monetary costs of repairing or reconstructing a home, and also the large psychic cost resulting from reloca ting. We first study the impact of age on the return migration decision. Our model suggests that those with greater stocks of location-specific capital in New Orleans would be more likely to return. We would also expect that location-specific capital increases with age. Indeed, Groen and Polivka, based on data from the Current Population Survey, find that the probability of returning increases with age. Moreover, they find that older adults were more likely than younger adults to return to both high-damage and low-damage areas. Thus, even though a proportion of the location-specific capital stock was destroyed, because location-specific capital accumulates over time, older individuals had a greater incentive to return because of their relatively larger stocks of location-specific capital. Moreover, Sastry and Gregory, using data from the American Community Survey, compared the likelihood of return migration in young (25-39) and middle-aged adults (40-59). 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