2019-10-27 17:37:00 Sun ET
treasury deficit debt employment inflation interest rate macrofinance fiscal stimulus economic growth fiscal budget public finance treasury bond treasury yield sovereign debt sovereign wealth fund tax cuts government expenditures
International climate change can cause an adverse impact on long-term real GDP economic growth. USC climate change economist Hashem Pesaran and his co-authors analyze a panel dataset of 174 countries for the years from 1960 to 2014. The major empirical punchline suggests that persistent changes in the temperature above or below its historical norm cause per-capita real economic output growth ceteris paribus. Specifically, a persistent increase in average global temperature by 0.04°C reduces global real GDP per capita by at least 7.22% by 2100 once the econometrician controls for all other relevant covariates and endogenous effects.
However, if all the sample countries abide by the Paris climate agreement to limit the temperature increase to 0.01°C per annum, this climate policy coordination can lower the economic output loss substantially to no more than 1.07%. Canada, India, Japan, New Zealand, Switzerland, and the U.S. can experience 10% larger losses of economic output growth. Also, climate change can cause a long-term adverse impact on economic output, labor productivity, and employment across at least 48 U.S. states and industrial sectors for the period from 1963 to 2016. This landmark study confirms and corroborates the progressive agenda that climate change can cause a first-order adverse impact on economic consequences.
If any of our AYA Analytica financial health memos (FHM), blog posts, ebooks, newsletters, and notifications etc, or any other form of online content curation, involves potential copyright concerns, please feel free to contact us at service@ayafintech.network so that we can remove relevant content in response to any such request within a reasonable time frame.
2018-02-23 09:35:00 Friday ET

Warren Buffett releases his annual letter to Berkshire Hathaway shareholders as of February 2018. Buffett discusses Berkshire's core cash ambition, its
2018-10-15 09:33:00 Monday ET

Several pharmaceutical companies now switch their primary focus from generic prescription drugs to medical specialties such as cardiovascular medications an
2018-03-09 08:33:00 Friday ET

David Solomon succeeds Lloyd Blankfein as the new CEO of Goldman Sachs. Unlike his predecessors Lloyd Blankfein and Gary Cohn, Solomon has been an investmen
2018-12-05 09:38:00 Wednesday ET

Federal Reserve publishes its inaugural flagship financial stability report. Fed Chair Jerome Powell applauds both low inflation (2%) and low unemployment (
2022-11-15 10:30:00 Tuesday ET

Stock market misvaluation and corporate investment payout The behavioral catering theory suggests that stock market misvaluation can have a first-order
2019-10-19 16:35:00 Saturday ET

European economic integration seems to have gone backwards primarily due to the recent Brexit movement. Brexit, key European sovereign debt, and French and