A growing literature estimates the macroeconomic effect of weather using variations in annual country-level averages of … frequency or higher spatial resolution. To address this issue, we rely on global daily weather measurements with a 30-km spatial … resolution from 1979 to 2019 and construct 164 weather variables and their lags. We select a parsimonious subset of relevant …

Climate change is an existential threat to the world economy like no other, with complex, evolving and nonlinear … dynamics that remain a source of great uncertainty. There is a bourgeoning literature on the economic impact of climate change …, but research on how climate change affects sovereign risks is limited. Building on our previous research focusing on the …

What is the impact of climate change on inflation and growth dynamics? This is not a simple question to answer as … climate shocks tend to be ubiquitous, but with opposing effects simultaneously on demand and supply. The extent of which … climate-related shocks affect inflation and economic growth also depends on long-run scarring in the economy and the country …

constraint, macroeconomic policy and institutional capacity. This paper extends the literature by arguing that climate shocks may … improve economic growth, and the size of the effect increases with good absorptive capacity. However, climate shocks reduce … resilience to climate change. Actions are also needed at global level to reduce greenhouse gases emissions, and build strong …

We stress test the global economy to extreme climate change-related shocks on large and interconnected economies. Our … analysis (i) identifies large and interconnected economies vulnerable to climate change-related shocks; (ii) estimates these … a global network model. We show that large and interconnected economies vulnerable to climate change could trigger a …

Climate change is a major threat to the sustainability and inclusiveness of our societies, and to the planet …’s habitability. A just transition to a low-carbon economy is the only viable way forward. This paper reviews the climate change … challenge. It stresses the criticality of systems changes (energy, transport, urban, land use, water) in a climate …

, however, appears very modest and not evident during the 2008 food price shock. The evidence suggests that trade openness …