VULNERABILITY TO HURRICANE DAMAGE ON THE U.S. GULF COAST SINCE 1950.

We study hurricane risk on the U.S. Gulf Coast during 1950-2005, estimating the wind damage and storm surge from every hurricane in this extended period. Wind damage is estimated from the known path and wind speeds of individual storms and calibrated to fit actual damage reports for a sample of Gulf Coast storms. Storm surge is estimated using the SLOSH model developed by NOAA. These models provide the first comprehensive overview of the hurricane storm hazard as it has been experienced over a fifty-six-year period. We link the estimated damage with information on the population and specific socio-demographic components of the population (by age, race, and poverty status). Results show that white, young adult, and nonpoor populations have shifted over time away from zones with higher risk of wind damage, while more vulnerable population groups-the elderly, African Americans, and poor-have moved in the opposite direction. All groups have moved away from areas with high risk of storm surge since 1970. But in this case, perhaps because living near the water is still perceived as an amenity, those at highest risk are whites, elderly, and nonpoor households. Here exposure represents a trade-off between the risk and the amenity.