To explain economic impacts of flood damage due to climate change over time in Japan, this study develops a dynamic spatial computable general equilibrium model, and measures flood damage costs through some numerical experiments. It is inferred that the frequency and the intensity of flood are...

The ongoing process of climate change goes along with an increase in the frequency and severity of various sorts of natural disasters. While the existing literature has almost exclusively focused on studying the direct effects resulting from different types of disasters, the effect of changing...

In the presence of a tipping point for dangerous climate damages, the cooperation problem of climate protection can be transformed into a coordination problem that is much easier to deal with (Barrett, 2013). This holds in particular if the amount of greenhouse gas emissions that triggers the...

How does subjective well-being depend on the fate of others when a covariate shock strikes? In this paper, we address this question by providing novel evidence on the impact of shock-induced damages experienced by individuals and their reference group on life satisfaction. We do so by examining...

Using a representative consumer survey in the U.S., we elicit beliefs about the economic impact of climate change. Respondents perceive a high probability of costly, rare disasters in the near future due to climate change, but not much of an impact on GDP growth. Salience of rare disasters...