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Mar 31, 2021 · We explore three broad areas: (1) the macroeconomic impacts of physical climate risk due to chronic climate change associated with global temperature increases and climate-related extreme shocks;...
Apr 17, 2024 · Using an empirical approach that provides a robust lower bound on the persistence of impacts on economic growth, we find that the world economy is committed to an income reduction of 19% within...
- The Need For Spatial-Dynamic Models
- Temperature Change Across Latitudes
- Modeling The World’S Geography
- The Economic Cost of Sea Level Rise
- The Geography of Global Warming
- Trade and Migration as Adaptation Mechanisms
- What’s Next?
Motivated by these observations, we came to realize the need for economic climate assessment models that take both temporal and spatial dimensions explicitly into account. As temperatures and sea levels change, individuals and firms will respond, and an important part of that adaptation will materialize between, rather than within, locations. Incor...
In 2015, we used this framework to study the effect of global warming on sectoral specialization, trade, and mobility.2As a first pass, a one-dimensional framework that focuses on differences across latitudes and ignores differences across longitudes is reasonable: a mere 5 percent of the world’s variance in temperature occurs within latitudes. Thi...
To more precisely quantify these costs and the spatial frictions faced by agents adapting to climate change, we needed a model with realistic geography. Although a one-dimensional model may be enough to analyze the main effects of rising temperatures across latitudes, it does not suffice to convincingly assess the economic effects of climate change...
One of the main consequences of a warming world is the global rise in sea levels, expected to surpass half a meter on average by the year 2100. To assess the economic impact of the inundation of coastal areas, we joined forces with climate scientists who generated probabilistic sea level rise projections for various locations around the globe.4Alth...
In recent work, we have turned our attention from sea level rise to global warming, using a more comprehensive and sophisticated assessment model. We allow changes in local temperatures to influence three local characteristics.5First, changes in temperature affect local productivity, with the impact depending on the location’s initial temperature. ...
In addition to migration, trade also has the potential to act as a powerful adaptation mechanism. There are, of course, situations where the scope for trade to mitigate the impact of climate change is limited. For example, if global warming affects the productivity of all local firms similarly and if changes in temperature are spatially correlated,...
We are continuing to improve our climate assessment model, estimating richer damage functions that incorporate episodic effects and their variance, incorporating anticipatory effects on investments, and adding a richer sectoral composition with input-output linkages. Our agenda includes a thorough evaluation of various environmental policies, inclu...
May 29, 2020 · May 06, 2020. Fiscal policies have provided large emergency lifelines to people and firms during the COVID-19 pandemic. They are also invaluable to increase a country’s readiness to respond to a crisis and to help with the recovery and beyond. Read more. Top 6 Blogs on Climate Change.
Jun 20, 2019 · A recent report examined how climate change could affect 22 different sectors of the economy under two different scenarios: if global temperatures rose 2.8˚ C from pre-industrial levels by 2100, and if they increased by 4.5˚ C.
Issue Date May 2024. This paper estimates that the macroeconomic damages from climate change are six times larger than previously thought. We exploit natural variability in global temperature and rely on time-series variation. A 1°C increase in global temperature leads to a 12% decline in world GDP. Global temperature shocks correlate much ...
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related to: shock (economics) the problem of climate changebasf.com has been visited by 100K+ users in the past month
To Protect The Climate, BASF Is Changing In Ways That Might Surprise You. To Protect The Climate, BASF Will Cut 11 Million Tons Of CO2 By 2030.
