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Impacts of climate extreme events on production and trade in four Mediterranean countries

Author

Listed:
  • Celine Gimet

    (University of Lyon, CNRS GATE, Ecully F-69130, France; Blue Plan-PAM-UNEP, Valbonne F-06560, France)

Abstract

The Mediterranean is one of the areas the most exposed to climate change. Setting up measures of prevention and adaptation is a priority for the region, to reduce climate costs. The aim of this paper is to highlight the economic losses already incurred by the Mediterranean countries due to extreme events. A structural VAR model allows to assess the vulnerability of the real, monetary and financial sectors of four countries in the region, characterized by different economic profiles, following periods of extreme climatic change. The analysis reveals that all countries in the sample already know significant economic losses which may increase with the strengthening of the climate change if no action is taken.

Suggested Citation

  • Celine Gimet, 2012. "Impacts of climate extreme events on production and trade in four Mediterranean countries," Economics Bulletin, AccessEcon, vol. 32(2), pages 1755-1764.
    • Handle: RePEc:ebl:ecbull:eb-12-00042
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    References listed on IDEAS

    as
    1. Kim, Soyoung & Roubini, Nouriel, 2000. "Exchange rate anomalies in the industrial countries: A solution with a structural VAR approach," Journal of Monetary Economics, Elsevier, vol. 45(3), pages 561-586, June.
    2. Hallegatte, Stephane & Hourcade, Jean-Charles & Dumas, Patrice, 2007. "Why economic dynamics matter in assessing climate change damages: Illustration on extreme events," Ecological Economics, Elsevier, vol. 62(2), pages 330-340, April.
    3. Cushman, David O. & Zha, Tao, 1997. "Identifying monetary policy in a small open economy under flexible exchange rates," Journal of Monetary Economics, Elsevier, vol. 39(3), pages 433-448, August.
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    JEL classification:

    • Q5 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics
    • E0 - Macroeconomics and Monetary Economics - - General

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