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Time Re-Allocation in Front of Disaster : Evidence from Sewol Ferry Sinking

초록/요약

Using difference-in-differences method with the exact time use reference date as a proxy for the exposure to Sewol disaster, we estimate how people in the treatment region adjust their time in front of disaster, psychological shock in particular. Expanding time window from 7 to 65 days, we observe stable progression of treatment effect as the decrease in home production and increase in the immediate enjoyment. The neighboring region of the treatment group increased market work by sacrificing leisure. This is the first study of disaster’s effect on time use and this may explain the mechanism behind macro consequences of disaster.

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