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.
2018-01-06 07:32:00 Saturday ET
Subsequent to the Trump tax cuts for Christmas in December 2017, the one-year-old Trump presidency now aims to make progress on health care, infrastructure,
2023-08-31 10:22:00 Thursday ET
Government intervention remains a major influence over global trade, finance, and technology. Nowadays, many governments tend to eschew common ownership
2019-02-06 10:36:49 Wednesday ET
President Trump delivers his second state-of-the-union address to U.S. Congress. Several key themes emerge from this presidential address. First, President
2018-12-23 13:39:00 Sunday ET
The House of Representatives considers a government expenditure bill with border wall finance and therefore sets up a shutdown stalemate with Senate. As fre
2018-04-20 10:38:00 Friday ET
Allianz chairman Mohamed El-Erian bolsters a new American economic paradigm in lieu of the Washington consensus. The latter dominates the old school of thou
2017-01-27 17:19:00 Friday ET
Tony Robbins explains in his latest book on personal finance that *patience* is the top secret to successful stock investment. The stock market embeds an