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

Author

Listed:
  • Alessandra Sgobbi

    (Fondazione Eni Enrico Mattei)

  • Carlo Carraro

    (University of Venice, Fondazione Eni Enrico Mattei, CEPR, CEPS, CMCC and CESifo)

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

  • Alessandra Sgobbi & Carlo Carraro, 2008. "Climate Change Impacts and Adaptation Strategies In Italy. An Economic Assessment," Working Papers 2008.6, Fondazione Eni Enrico Mattei.
  • Handle: RePEc:fem:femwpa:2008.6
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    File URL: https://www.feem.it/m/publications_pages/NDL2008-006.pdf
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    References listed on IDEAS

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    1. Stern,Nicholas, 2007. "The Economics of Climate Change," Cambridge Books, Cambridge University Press, number 9780521700801, October.
    2. Marzio Galeotti & Alessandra Goria & Paolo Mombrini & Evi Spantidaki, 2004. "Weather Impacts On Natural, Social And Economic System (WISE) Part I: Sectoral Analysis of Climate Impacts in Italy," Working Papers 2004.31, Fondazione Eni Enrico Mattei.
    3. Alessandra Goria & Gretel Gambarelli, 2004. "Economic Evaluation of Climate Change Impacts and Adaptation in Italy," Working Papers 2004.103, Fondazione Eni Enrico Mattei.
    4. William R. Cline, 1992. "Economics of Global Warming, The," Peterson Institute Press: All Books, Peterson Institute for International Economics, number 39, September.
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    6. Hope, Chris & Anderson, John & Wenman, Paul, 1993. "Policy analysis of the greenhouse effect : An application of the PAGE model," Energy Policy, Elsevier, vol. 21(3), pages 327-338, March.
    7. Richard Tol, 2002. "Estimates of the Damage Costs of Climate Change. Part 1: Benchmark Estimates," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 21(1), pages 47-73, January.
    8. Deke, Oliver & Hooss, Kurt Georg & Kasten, Christiane & Klepper, Gernot & Springer, Katrin, 2001. "Economic impact of climate change: simulations with a regionalized climate-economy model," Kiel Working Papers 1065, Kiel Institute for the World Economy (IfW).
    9. Francesco Bosello & Jian Zhang, 2005. "Assessing Climate Change Impacts: Agriculture," Working Papers 2005.94, Fondazione Eni Enrico Mattei.
    10. 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:

    1. Van Butsic & Ellen Hanak & Robert G. Valletta, 2008. "Climate change and asset prices: hedonic estimates for North American ski resorts," Working Paper Series 2008-12, Federal Reserve Bank of San Francisco.
    2. 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.
    3. 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, Open Access Journal, vol. 11(18), pages 1-18, September.
    4. 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.
    5. 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.
    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.

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    More about this item

    Keywords

    Impacts; Climate Change; Adaptation; GDP Losses; Tourism;
    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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