Global climate change can cause an adverse impact on long-term real GDP economic growth.

Dan Rochefort

2019-10-27 17:37:00 Sun ET

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 2014The 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.

Blog+More

Main reasons for share repurchases

Apple Boston

2022-09-25 09:34:00 Sunday ET

Main reasons for share repurchases

Main reasons for share repurchases Temporary market undervaluation often induces corporate incumbents to initiate a share repurchase program to boost the

+See More

Neoliberal public choice continues to spin national taxation and several other forms of government intervention.

Peter Prince

2019-01-07 18:42:00 Monday ET

Neoliberal public choice continues to spin national taxation and several other forms of government intervention.

Neoliberal public choice continues to spin national taxation and several other forms of government intervention. The key post-crisis consensus focuses on go

+See More

HPE CEO Meg Whitman decides to step down after her 6-year stint at the technology giant.

Charlene Vos

2017-11-07 09:38:00 Tuesday ET

HPE CEO Meg Whitman decides to step down after her 6-year stint at the technology giant.

HPE CEO Meg Whitman has run both eBay and Hewlett Packard within Fortune 500 and now has decided to step down after her 6-year stint at the technology giant

+See More

Stock Synopsis: With a new Python program, we use, adapt, apply, and leverage each of the mainstream Gemini Gen AI models to conduct this comprehensive fundamental analysis of Nvidia (U.S. stock symbol: $NVDA).

Peter Prince

2025-09-24 09:49:53 Wednesday ET

Stock Synopsis: With a new Python program, we use, adapt, apply, and leverage each of the mainstream Gemini Gen AI models to conduct this comprehensive fundamental analysis of Nvidia (U.S. stock symbol: $NVDA).

Stock Synopsis: With a new Python program, we use, adapt, apply, and leverage each of the mainstream Gemini Gen AI models to conduct this comprehensive fund

+See More

Anne Krueger explains why the Trump administration's current tariff tactics undermine the multilateral global trade system.

Fiona Sydney

2018-09-21 09:41:00 Friday ET

Anne Krueger explains why the Trump administration's current tariff tactics undermine the multilateral global trade system.

Former World Bank and IMF chief advisor Anne Krueger explains why the Trump administration's current tariff tactics undermine the multilateral global tr

+See More

Paulson, Geithner, and Bernanke warn that people seem to have forgotten the lessons of the global financial crisis from 2008 to 2009.

Daphne Basel

2018-07-17 08:35:00 Tuesday ET

Paulson, Geithner, and Bernanke warn that people seem to have forgotten the lessons of the global financial crisis from 2008 to 2009.

Henry Paulson and Timothy Geithner (former Treasury heads) and Ben Bernanke (former Fed chairman) warn that people seem to have forgotten the lessons of the

+See More