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Climate Change Impacts and Adaptation Strategies In Italy. An Economic Assessment

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  • Carraro, Carlo
  • Sgobbi, Alessandra

Abstract

In this paper, the economic value of the impacts of climate change is assessed for different Italian economic sectors and regions. Sectoral and regional impacts are then aggregated to provide a macroeconomic estimate of variations in GDP induced by climate change in the next decades. Autonomous adaptation induced by changes in relative prices and in stocks of natural and economic resources is fully taken into account. The model also considers international trade effects. Results show that in Italy aggregate GDP losses induced by climate change are likely to be small. However, some economic sectors (e.g. tourism) and the alpine regions will suffer significant economic damages.

Suggested Citation

  • Carraro, Carlo & Sgobbi, Alessandra, 2008. "Climate Change Impacts and Adaptation Strategies In Italy. An Economic Assessment," Climate Change Modelling and Policy Working Papers 6373, Fondazione Eni Enrico Mattei (FEEM).
    • Handle: RePEc:ags:feemcc:6373
    DOI: 10.22004/ag.econ.6373
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    References listed on IDEAS

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    10. Francesco Bosello & Jian Zhang, 2005. "Assessing Climate Change Impacts: Agriculture," Working Papers 2005.94, Fondazione Eni Enrico Mattei.
    11. Maddison, David & Bigano, Andrea, 2003. "The amenity value of the Italian climate," Journal of Environmental Economics and Management, Elsevier, vol. 45(2), pages 319-332, March.
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    Cited by:

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    2. Todd Sanderson & Fredoun Z. Ahmadi‐Esfahani, 2009. "Testing Comparative Advantage in Australian Broadacre Agriculture Under Climate Change: Theoretical and Empirical Models," Economic Papers, The Economic Society of Australia, vol. 28(4), pages 346-354, December.
    3. Shirvani Dastgerdi, Ahmadreza & Sargolini, Massimo & Broussard Allred, Shorna & Chatrchyan, Allison Morrill & Drescher, Michael & DeGeer, Christopher, 2022. "Climate change risk reduction in cultural landscapes: Insights from Cinque Terre and Waterloo," Land Use Policy, Elsevier, vol. 123(C).
    4. Michela Catenacci & Carlo Giupponi, 2010. "Potentials and Limits of Bayesian Networks to Deal with Uncertainty in the Assessment of Climate Change Adaptation Policies," Working Papers 2010.7, Fondazione Eni Enrico Mattei.
    5. Milan Oplanić & Ana Čehić Marić & Smiljana Goreta Ban & Tajana Čop & Mario Njavro, 2022. "Horticultural Farmers’ Perceived Risk of Climate Change in Adriatic Croatia," Sustainability, MDPI, vol. 15(1), pages 1-13, December.
    6. Paul Watkiss & Alistair Hunt, 2012. "Projection of economic impacts of climate change in sectors of Europe based on bottom up analysis: human health," Climatic Change, Springer, vol. 112(1), pages 101-126, May.
    7. Enrico Bernardini & Ivan Faiella & Luciano Lavecchia & Alessandro Mistretta & Filippo Natoli, 2021. "Central banks, climate risks and sustainable finance," Questioni di Economia e Finanza (Occasional Papers) 608, Bank of Italy, Economic Research and International Relations Area.
    8. Molinaroli, Emanuela & Guerzoni, Stefano & Suman, Daniel, 2018. "Adaptations to Sea Level Rise: A Tale of Two Cities – Venice and Miami," MarXiv 73a25, Center for Open Science.
    9. Fatemeh Fadia Maghsood & Hamidreza Moradi & Ronny Berndtsson & Mostafa Panahi & Alireza Daneshi & Hossein Hashemi & Ali Reza Massah Bavani, 2019. "Social Acceptability of Flood Management Strategies under Climate Change Using Contingent Valuation Method (CVM)," Sustainability, MDPI, vol. 11(18), pages 1-18, September.
    10. Ana Čehić Marić & Tajana Čop & Milan Oplanić & Smiljana Goreta Ban & Mario Njavro, 2023. "Adaptation to Climate Change in Adriatic Croatia—The View of Policymakers," Sustainability, MDPI, vol. 15(9), pages 1-11, April.

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    More about this item

    Keywords

    Environmental Economics and Policy; Political Economy; Resource /Energy Economics and Policy;
    All these keywords.

    JEL classification:

    • O13 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products
    • Q43 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Energy and the Macroeconomy
    • Q5 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics
    • R13 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - General Equilibrium and Welfare Economic Analysis of Regional Economies

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