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Economic costs of extratropical storms under climate change: an application of FUND

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  • Daiju Narita
  • Richard Tol
  • David Anthoff

Abstract

Extratropical cyclones have attracted some attention in climate policy circles as a possible significant damage factor of climate change. This study conducts an assessment of economic impacts of increased storm activities under climate change with the integrated assessment model FUND 3.5. In the base case, the direct economic damage of enhanced storms due to climate change amounts to US$2.8 billion globally (approximately 38% of the total economic loss of storms at present) at the year 2100, while its ratio to the world GDP is 0.0009%. The paper also shows various sensitivity runs exhibiting up to 3 times the level of damage relative to the base run.

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File URL: http://www.tandfonline.com/doi/abs/10.1080/09640561003613138
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Bibliographic Info

Article provided by Taylor and Francis Journals in its journal Journal of Environmental Planning and Management.

Volume (Year): 53 (2010)
Issue (Month): 3 ()
Pages: 371-384

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Handle: RePEc:taf:jenpmg:v:53:y:2010:i:3:p:371-384

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Related research

Keywords: climate change; extra tropical storms; economic impact;

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References

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  1. Frances Ruane & Xiaoheng Zhang, 2007. "Location Choices of the Pharmaceutical Industry in Europe after 1992," The Institute for International Integration Studies Discussion Paper Series iiisdp220, IIIS.
  2. Seán Lyons & Karen Mayor & Richard S.J. Tol, 2008. "Environmental Accounts for the Republic of Ireland: 1990-2005," Papers WP223, Economic and Social Research Institute (ESRI).
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Citations

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Cited by:
  1. Rezai, Armon & Taylor, Lance & Mechler, Reinhard, 2013. "Ecological macroeconomics: An application to climate change," Ecological Economics, Elsevier, vol. 85(C), pages 69-76.
  2. Marten, Alex L., 2011. "Transient temperature response modeling in IAMs: the effects of over simplification on the SCC," Economics Discussion Papers 2011-11, Kiel Institute for the World Economy.
  3. Marten, Alex L. & Newbold, Stephen C., 2012. "Estimating the social cost of non-CO2 GHG emissions: Methane and nitrous oxide," Energy Policy, Elsevier, vol. 51(C), pages 957-972.
  4. Kousky, Carolyn, 2012. "Informing Climate Adaptation: A Review of the Economic Costs of Natural Disasters, Their Determinants, and Risk Reduction Options," Discussion Papers dp-12-28, Resources For the Future.
  5. Elizabeth Kopits & Alex L. Marten & Ann Wolverton, 2013. "Moving Forward with Incorporating "Catastrophic" Climate Change into Policy Analysis," NCEE Working Paper Series 201301, National Center for Environmental Economics, U.S. Environmental Protection Agency, revised Jan 2013.
  6. Tol, Richard S. J., 2008. "The Economic Impact of Climate Change," Papers WP255, Economic and Social Research Institute (ESRI).
  7. Anthoff, David & Tol, Richard S. J. & Yohe, Gary W., 2009. "Discounting for Climate Change," Economics Discussion Papers 2009-15, Kiel Institute for the World Economy.

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