Climate Shocks, Cyclones, and Economic Growth: Bridging the Micro-Macro Gap / Laura Bakkensen, Lint Barrage.

Format:

Book

Author/Creator:

Bakkensen, Laura.

Contributor:

National Bureau of Economic Research.

Barrage, Lint.

Series:

Working Paper Series (National Bureau of Economic Research) no. w24893.

NBER working paper series no. w24893

Language:

English

Physical Description:

1 online resource: illustrations (black and white);

Other Title:

Climate Shocks, Cyclones, and Economic Growth

Place of Publication:

Cambridge, Mass. National Bureau of Economic Research 2018.

Summary:

Empirical analyses of climatic event impacts on growth, while critical for policy, have been slow to be incorporated into macroeconomic climate-economy models. This paper proposes a joint empirical-structural approach to bridge this gap for tropical cyclones. First, we review competing empirical approaches in a harmonized global dataset and through a theory lens. Second, we estimate cyclone impacts on structural determinants of growth (productivity, depreciation, fatalities) to quantify a stochastic growth model for 40 vulnerable countries and project welfare effects of climate-driven cyclone risk changes. Third, we compute cyclone impacts on the social cost of carbon in the seminal DICE model.

Notes:

Print version record

August 2018.