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Economic Costs of Extratropical Storms Under Climate Change: An Application of FUND

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Listed:
  • Narita, Daiju

    (ESRI)

  • Tol, Richard S. J.

    (ESRI)

  • Anthoff, David

    (ESRI)

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 3.4. In the base case, the direct economic damage of enhanced storms due to climate change amounts to $2.4 billion globally (approximately 35% of the total economic loss of storms at present) at the year 2100, while its ratio to the world GDP is 0.0007%. The paper also shows various sensitivity runs exhibiting up to 4 times the level of damage relative to the base run.

Suggested Citation

  • Narita, Daiju & Tol, Richard S. J. & Anthoff, David, 2009. "Economic Costs of Extratropical Storms Under Climate Change: An Application of FUND," Papers WP274, Economic and Social Research Institute (ESRI).
    • Handle: RePEc:esr:wpaper:wp274
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    References listed on IDEAS

    as
    1. William R. Cline, 1992. "Economics of Global Warming, The," Peterson Institute Press: All Books, Peterson Institute for International Economics, number 39, July.
    2. 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.
    3. 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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