Assessing the Economic Impacts of Climate Change

11 Pages Posted: 28 Mar 2012

See all articles by Francesco Bosello

Francesco Bosello

University of Milan - Department of Economics, Business and Statistics; CMCC - Centro Euro-Mediterraneo sui Cambiamenti Climatici

Fabio Eboli

Fondazione Eni Enrico Mattei (FEEM); CMCC - Centro Euro-Mediterraneo sui Cambiamenti Climatici

Roberta Pierfederici

Fondazione Eni Enrico Mattei (FEEM), CMCC - Euro Mediterranean Centre for Climate Change

Date Written: February 10, 2012

Abstract

The present research describes a climate change integrated impact assessment exercise, whose economic evaluation is based on a CGE approach and modeling effort. Estimates indicate that a temperature increase of 1.92°C compared to pre-industrial levels in 2050 (consistent with the A1B IPCC SRES scenario) could lead to global GDP losses of approximately 0.5% compared to a hypothetical scenario where no climate change is assumed to occur. Northern Europe is expected to slightly benefit ( 0.18%), while Southern and Eastern Europe are expected to suffer from the climate change scenario under analysis (-0.15% and -0.21% respectively). Most vulnerable countries are the less developed regions, such as South Asia, South-East Asia, North Africa and Sub-Saharan Africa.

Keywords: computable general equilibrium modeling, impact assessment, climate change

JEL Classification: C68, Q51, Q54

Suggested Citation

Bosello, Francesco and Eboli, Fabio and Pierfederici, Roberta, Assessing the Economic Impacts of Climate Change (February 10, 2012). FEEM (Fondazione Eni Enrico Mattei), Review of Environment, Energy and Economics (Re3), February 2012, Available at SSRN: https://ssrn.com/abstract=2030223

Francesco Bosello

University of Milan - Department of Economics, Business and Statistics

Via Festa del Perdono, 7
Milan, 20122
Italy

CMCC - Centro Euro-Mediterraneo sui Cambiamenti Climatici

via Augusto Imperatore, 16
Lecce, I-73100
Italy

Fabio Eboli

Fondazione Eni Enrico Mattei (FEEM) ( email )

Corso Magenta 63
20123 Milan
Italy

CMCC - Centro Euro-Mediterraneo sui Cambiamenti Climatici ( email )

via Augusto Imperatore, 16
Lecce, I-73100
Italy

Roberta Pierfederici (Contact Author)

Fondazione Eni Enrico Mattei (FEEM), CMCC - Euro Mediterranean Centre for Climate Change ( email )

C.so Magenta 63
Milano, 20123
Italy

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