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Research papers, Victoria University of Wellington

Earthquakes are insured only with public sector involvement in high-income countries where the risk of earthquakes is perceived to be high. The proto-typical examples of this public sector involvement are the public earthquake insurance schemes in California, Japan, and New Zealand (NZ). Each of these insurance programs is structured differently, and the purpose of this paper is to examine these differences using a concrete case-study, the sequence of earthquakes that occurred in the Christchurch, New Zealand, in 2011. This event turned out to have been the most heavily insured earthquake event in history. We examine what would have been the outcome of the earthquakes had the system of insurance in NZ been different. In particular, we focus on the public earthquake insurance programs in California (the California Earthquake Authority - CEA), and in Japan (Japanese Earthquake Reinsurance - JER). Overall, the aggregate cost to the public insurer in NZ was $NZ 11.1 billion in its response to the earthquakes. If a similar-sized disaster event had occurred in Japan and California, homeowners would have received $NZ 2.5 billion and $NZ 1.4 billion from the JER and CEA, respectively. We further describe the spatial and distributive patterns of these different scenarios.

Research papers, Victoria University of Wellington

We measure the longer-term effect of a major earthquake on the local economy, using night-time light intensity measured from space, and investigate whether insurance claim payments for damaged residential property affected the local recovery process. We focus on the destructive Christchurch earthquake of 2011 as our case study. In this event more than 95% of residential housing units were covered by insurance, but insurance payments were staggered over 5 years, enabling us to identify their local impact. We find that night-time luminosity can capture the process of recovery and describe the recovery’s determinants. We also find that insurance payments contributed significantly to the process of economic recovery after the earthquake, but delayed payments were less affective and cash settlement of claims were more affective in contributing to local recovery than insurance-managed rebuilding.

Research papers, Victoria University of Wellington

We estimate the causal effects of a large unanticipated natural disaster on high schoolers’ university enrolment decisions and subsequent medium-term labour market outcomes. Using national administrative data after a destructive earthquake in New Zealand, we estimate that the disaster raises tertiary education enrolment of recent high school graduates by 6.1 percentage points. The effects are most pronounced for males, students who are academically weak relative to their peers, and students from schools directly damaged by the disaster. As relatively low ability males are overrepresented in sectors of the labour market helped by the earthquake, greater demand for university may stem from permanent changes in deeper behavioural parameters such as risk aversion or time preference, rather than as a coping response to poor economic opportunities.

Audio, Radio New Zealand

Ever wondered what happened to some of the damaged timber from the Lyttelton wharves after the Canterbury earthquakes? The tough ironbark they were made from was too good not to be rescued and Oxford's Steve Evans was just the man for the job, as Mark Leishman discovered.

Images, eqnz.chch.2010

Scavenger Hunt 101 - SH 8 (abandoned building or ruin) The ruins/remains of what was the third highest building in Christchurch, pre earthquakes, the Price Waterhouse Coopers building in Armagh Street. At 76.3 metres ( 21 floors) the demolition has left the basement (now flooded) and these supports. Just one of many photos from Christchurch ...

Images, eqnz.chch.2010

See previous photo (exactly 3 hours earlier). Demolition of the support structure for NZ Breweries smokestack in Christchurch. CERES NZ's nibbler is at work, the pipe stack having been removed yesterday (Saturday). This is three hours after the previous photo, and just a pile of rubble sits beside the tree (largely undamaged despite being next...

Images, eqnz.chch.2010

Went for a drive down to South New Brighton/Southshore after work today to see what interesting birds I could find on the Estuary (godwits, skuas, terns etc), but passing Jellico Street, I saw this. T-Rex the seismic survey truck from the University of Texas that is visiting the city (first time out of USA). Weighs 30 tonne and from the marks o...

Images, eqnz.chch.2010

The Cranmer Court demolition started today in Christchurch. The 1876 building was originally a Normal School and was in a derelict state in the early 1980s when it was rescued and converted into apartments. The heritage-listed building was red-stickered after the February 2011 earthquake.

Images, eqnz.chch.2010

Closeup of the Grand Chancellor showing the south eastern corner, which is where it has slumped and broken and is now leaning in that direction. I note that they have taken some equipment out of the roof, you can see daylight through the gaps on the other side. The broken windows are also clearly visible with curtains hanging in some of them. ...

Images, eqnz.chch.2010

There are occasional sewerage spills into the Avon River while all the sewer and road repairs are carried out. This rock wall was level and well above high tide level prior to the eathquakes. All the houses that can been seen here (except for those on the distant Port Hills) are in the suburban "red zone" and are still to be demolished.

Images, eqnz.chch.2010

20131214_6268_1D3-24 Where once stood houses (Day 348/365) The area beside the lower Avon River in New Brighton of Evans Avenue and Admirals Way has been cleared of houses and boundary fences (there were between 15 and 20 houses on this block) , fully fenced with post and wire and "spray on" grass applied. These were all red zone properties a...