We examine the impact of earthquakes on residential property values using sales data from Oklahoma from 2006 to 2014. Using hedonic models, we estimate that prices decline by 3 to 4 percent after a home has experienced a moderate earthquake measuring 4 or 5 on the Modified Mercalli Intensity Scale and up to 9.8 percent after a potentially damaging earthquake with intensity above 6.
We estimate the extent to which variation in local government revenues and expenditures after the Great Recession can be explained by variation in the expansion of household debt from 2002 to 2007, and the contraction thereafter.
