Giuliano, Fernando - 2024
. This paper intends to fill this gap by integrating climate shocks into the World Bank's Macro-Fiscal Model, its workhorse … climate and macroeconomic shock of the type witnessed once every six years on average, and 4.1 percent under a once-in-40 …-years combined negative shock. Climate change compounds these effects going forward, worsening the magnitude of the downside …
