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This paper presents a Markov switching dynamic stochastic general equilibrium model designed to evaluate the macroeconomic return of adaptation investment to natural disasters (NDs) and the impact of climate change. While the model follows the existing literature in assuming that NDs destroy a...
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Background paper prepared for the October 2020 IMF World Economic Outlook. This paper provides a detailed presentation … of the simulation results from the October 2020 IMF World Economic Outlook chapter 3 and an additional scenario with …
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