Economics of extreme weather events in cities: Terminology and regional impact models
Impacts of extreme weather events are relevant for cities in many aspects. Cities are the cores of economic activity and the amount of people and assets endangered by extreme weather events is large, even under the current climate. A changing climate with changing extreme weather patterns and the process of urbanization will make the whole issue even more relevant in the future. In this paper, definitions and terminology in the field of extreme weather events are discussed. Possible impacts of extreme weather events on cities are collected and the human influences are emphasized. Economic impacts are discusses along a temporal and a sectoral dimension. Finally, common economic impact models are compared, analyzing their strengths and weaknesses.
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Ifo Working Paper Series
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