(Indirect economic) loss: Difference between revisions
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Available at: https://www.undrr.org/terminology/economic-loss | Available at: https://www.undrr.org/terminology/economic-loss | ||
'''See also''': [[(Economic) loss|<span style="color: | '''See also''': [[(Economic) loss|<span style="color: #DB20D2">(Economic) loss</span>]], [[(Direct economic) loss|<span style="color: #DB20D2">(Direct economic) loss</span>]] | ||
Back to '''[[Definitions]]''' | Back to '''[[Definitions| <span style="color: #374CFF">Definitions</span>]]''' | ||
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Revision as of 10:55, 27 February 2024
Definition
A decline in economic value added as a consequence of direct economic loss and/or human and environmental impacts.
Indirect economic loss includes microeconomic impacts (e.g., revenue declines owing to business interruption), mesoeconomic impacts (e.g., revenue declines owing to impacts on natural assets, interruptions to supply chains or temporary unemployment) and macroeconomic impacts (e.g., price increases, increases in government debt, negative impact on stock market prices and decline in GDP). Indirect losses can occur inside or outside of the hazard area and often have a time lag. As a result, they may be intangible or difficult to measure.
Source
UNDRR (2016). Report of the open-ended intergovernmental expert working group on indicators and terminology relating to disaster risk reduction
Available at: https://www.undrr.org/terminology/economic-loss
See also: (Economic) loss, (Direct economic) loss
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