Long-Term Macroeconomic Effects of Climate Change: A Cross-Country Analysis

Long-Term Macroeconomic Effects of Climate Change: A Cross-Country Analysis
Author :
Publisher : International Monetary Fund
Total Pages : 59
Release :
ISBN-10 : 9781513514598
ISBN-13 : 1513514598
Rating : 4/5 (598 Downloads)

Book Synopsis Long-Term Macroeconomic Effects of Climate Change: A Cross-Country Analysis by : Matthew E. Kahn

Download or read book Long-Term Macroeconomic Effects of Climate Change: A Cross-Country Analysis written by Matthew E. Kahn and published by International Monetary Fund. This book was released on 2019-10-11 with total page 59 pages. Available in PDF, EPUB and Kindle. Book excerpt: We study the long-term impact of climate change on economic activity across countries, using a stochastic growth model where labor productivity is affected by country-specific climate variables—defined as deviations of temperature and precipitation from their historical norms. Using a panel data set of 174 countries over the years 1960 to 2014, we find that per-capita real output growth is adversely affected by persistent changes in the temperature above or below its historical norm, but we do not obtain any statistically significant effects for changes in precipitation. Our counterfactual analysis suggests that a persistent increase in average global temperature by 0.04°C per year, in the absence of mitigation policies, reduces world real GDP per capita by more than 7 percent by 2100. On the other hand, abiding by the Paris Agreement, thereby limiting the temperature increase to 0.01°C per annum, reduces the loss substantially to about 1 percent. These effects vary significantly across countries depending on the pace of temperature increases and variability of climate conditions. We also provide supplementary evidence using data on a sample of 48 U.S. states between 1963 and 2016, and show that climate change has a long-lasting adverse impact on real output in various states and economic sectors, and on labor productivity and employment.


Long-Term Macroeconomic Effects of Climate Change: A Cross-Country Analysis Related Books

Long-Term Macroeconomic Effects of Climate Change: A Cross-Country Analysis
Language: en
Pages: 59
Authors: Matthew E. Kahn
Categories: Business & Economics
Type: BOOK - Published: 2019-10-11 - Publisher: International Monetary Fund

GET EBOOK

We study the long-term impact of climate change on economic activity across countries, using a stochastic growth model where labor productivity is affected by c
Climate Economics
Language: en
Pages: 255
Authors: Richard S.J. Tol
Categories: Climatic changes
Type: BOOK - Published: 2019 - Publisher: Edward Elgar Publishing

GET EBOOK

This unique and erudite second edition can be used at three different levels – advanced undergraduate, post-graduate and doctoral. It comprehensively covers t
The Economics of Climate Change
Language: en
Pages: 365
Authors: Gary D. Libecap
Categories: Business & Economics
Type: BOOK - Published: 2011-06-01 - Publisher: University of Chicago Press

GET EBOOK

While debates over the consequences of climate change are often pessimistic, historical data from the past two centuries indicate many viable opportunities for
Climate Economics
Language: en
Pages: 176
Authors: Michael Roos
Categories: Business & Economics
Type: BOOK - Published: 2020-11-13 - Publisher: Springer Nature

GET EBOOK

This book is a philosophical critique of the economics of climate change from both an ethical and philosophy of economics perspective. Mitigating climate change
Climate Economics
Language: en
Pages: 193
Authors: Frank Ackerman
Categories: Business & Economics
Type: BOOK - Published: 2013-02-11 - Publisher: Routledge

GET EBOOK

Climate science paints a bleak picture: The continued growth of greenhouse gas emissions is increasingly likely to cause irreversible and catastrophic effects.