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Climate Change and Extreme Events: An Assessment of Economic Implications

Author

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  • Calzadilla, Alvaro
  • Pauli, Francesco
  • Roson, Roberto

Abstract

We use a dynamic general equilibrium model of the world economy to assess the economic implications of vulnerability from extreme meteorological events. In particular, we consider the impact of climate change on ENSO and NAO circulation patterns, and the implied variation on regional expected damages. Two effects are taken into account: (1) short-term impacts, due to changes in the demand structure, generated by higher/lower precautionary saving, and (2) variations in the regional economic growth paths.

Suggested Citation

  • Calzadilla, Alvaro & Pauli, Francesco & Roson, Roberto, 2005. "Climate Change and Extreme Events: An Assessment of Economic Implications," Conference papers 331339, Purdue University, Center for Global Trade Analysis, Global Trade Analysis Project.
    • Handle: RePEc:ags:pugtwp:331339
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    2. Roberto Roson & Enrica de Cian & Elisa Lanzi, 2007. "The Impact of Temperature Change on Energy Demand a Dynamic Panel Analysis," Working Papers 2007_06, Department of Economics, University of Venice "Ca' Foscari".
    3. Ranson, Matthew & Tarquinio, Lisa & Lew, Audrey, 2016. "Modeling the Impact of Climate Change on Extreme Weather Losses," National Center for Environmental Economics-NCEE Working Papers 280932, United States Environmental Protection Agency (EPA).
    4. Roberto Roson & Martina Sartori, 2016. "Estimation of Climate Change Damage Functions for 140 Regions in the GTAP 9 Database," Journal of Global Economic Analysis, Center for Global Trade Analysis, Department of Agricultural Economics, Purdue University, vol. 1(2), pages 78-115, December.
    5. Naeem Akram* & Asma Gulzar**, 2013. "Climate change and economic growth : An empirical analysis of Pakistan," Pakistan Journal of Applied Economics, Applied Economics Research Centre, vol. 23(1), pages 31-54.
    6. Michael Berlemann & Max Steinhardt & Jascha Tutt, 2015. "Do Natural Disasters Stimulate Individual Saving? Evidence from a Natural Experiment in a Highly Developed Country," SOEPpapers on Multidisciplinary Panel Data Research 763, DIW Berlin, The German Socio-Economic Panel (SOEP).
    7. Bosello, Francesco & Roson, Roberto, 2006. "Climate Change, Energy Demand and Market Power in a General Equilibrium Model of the World Economy," Conference papers 331448, Purdue University, Center for Global Trade Analysis, Global Trade Analysis Project.
    8. Michael Berlemann & Daniela Wenzel, 2016. "Long-term Growth Effects of Natural Disasters - Empirical Evidence for Droughts," Economics Bulletin, AccessEcon, vol. 36(1), pages 464-476.
    9. Somayeh Meyghani & Mahdi Khodaparast Mashhadi & Narges Salehnia, 2023. "Long-term effects of temperature and precipitation on economic growth of selected MENA region countries," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 25(7), pages 7325-7343, July.
    10. Naeem Akram & Abdul Hamid, 2015. "Climate change: A threat to the economic growth of Pakistan," Progress in Development Studies, , vol. 15(1), pages 73-86, January.
    11. Ashfaq Ahmad Shah & Jingzhong Ye & Muhammad Abid & Raza Ullah, 2017. "Determinants of flood risk mitigation strategies at household level: a case of Khyber Pakhtunkhwa (KP) province, Pakistan," Natural Hazards: Journal of the International Society for the Prevention and Mitigation of Natural Hazards, Springer;International Society for the Prevention and Mitigation of Natural Hazards, vol. 88(1), pages 415-430, August.
    12. Becchetti, Leonardo & Castriota, Stefano & Conzo, Pierluigi, 2017. "Disaster, Aid, and Preferences: The Long-run Impact of the Tsunami on Giving in Sri Lanka," World Development, Elsevier, vol. 94(C), pages 157-173.
    13. Radović, Vesela & Pejanović, Radovan & Marinčić, Dušan, 2015. "Extreme Weather And Climatic Events On Agriculture As A Risk Of Sustainable Development," Economics of Agriculture, Institute of Agricultural Economics, vol. 62(01), pages 1-11, March.
    14. De Souza Ferreira Filho, Joaquim Bento, 1999. "Trade Creation X Trade Diversion: Evidences from the GTAP Model in the Mercosur Integration Process," Conference papers 330889, Purdue University, Center for Global Trade Analysis, Global Trade Analysis Project.
    15. Jaume Rosselló Nadal, 2009. "The impact of the NAO index on European Airline Transit," CRE Working Papers (Documents de treball del CRE) 2009/5, Centre de Recerca Econòmica (UIB ·"Sa Nostra").
    16. Naeem Akram, 2012. "Is climate change hindering economic growth of Asian economies?," Asia-Pacific Development Journal, United Nations Economic and Social Commission for Asia and the Pacific (ESCAP), vol. 19(2), pages 1-18, December.
    17. Lee, Donna J. & Zhang, J., 2006. "Estimating Global Environmental Implications of Agricultural Trade Liberalization: A Computable General Equilibrium Analysis," 2006 Annual Meeting, August 12-18, 2006, Queensland, Australia 25290, International Association of Agricultural Economists.
    18. Berlemann, Michael & Wenzel, Daniela, 2018. "Hurricanes, economic growth and transmission channels," World Development, Elsevier, vol. 105(C), pages 231-247.
    19. K. Jenkins, 2013. "Indirect economic losses of drought under future projections of climate change: a case study for Spain," Natural Hazards: Journal of the International Society for the Prevention and Mitigation of Natural Hazards, Springer;International Society for the Prevention and Mitigation of Natural Hazards, vol. 69(3), pages 1967-1986, December.

    More about this item

    Keywords

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    JEL classification:

    • D58 - Microeconomics - - General Equilibrium and Disequilibrium - - - Computable and Other Applied General Equilibrium Models
    • D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making
    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming

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