{"product_id":"global-geography-of-long-term-projected-macroeconomic-damages-from-chronic-physical-risk-the","title":"Global Geography of Long-Term Projected Macroeconomic Damages from Chronic Physical Risk, The","description":"Does the macro-level relationship between temperature and output comprehensively reflect the patterns observed sub-nationally? This Element quantifies heterogeneous productivity-growth responses to plausibly exogenous temperature and precipitation fluctuations using unbalanced panels over 1970-2018 (166 countries from Penn World Tables 10.01; \u0026gt;1,500 sub-national regions from MCC-PIK). It projects climate change-driven permanent damages to the level of GDP per capita by compounding physical risk-induced productivity-growth deviations over time. These transitory shocks are calculated by combining econometrically estimated response functions with an ensemble of NEX-GDDP CMIP6 simulations from 29 global climate models, which are extrapolated to 3,672 provinces covering 95% of global economic production. First, this study provides a basis for producing spatially disaggregated projections of climate-induced economic damages that consistently encompass most productive regions. Second, it shows that accounting for spatially granular climatic exposure and intra-country economic heterogeneity yields aggregated losses that alter the conclusions of previous global GDP models.","brand":"Cambridge University Press","offers":[{"title":"Default Title","offer_id":58480112566607,"sku":"9781047781800","price":99.95,"currency_code":"EUR","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0061\/0372\/8217\/files\/9781047781800_1-global-geography-of-long-term-projected-macroeconomic-damages-from-chronic-physical-risk-the.jpg?v=1786767700","url":"https:\/\/www.suomalainen.com\/products\/global-geography-of-long-term-projected-macroeconomic-damages-from-chronic-physical-risk-the","provider":"Suomalainen.com","version":"1.0","type":"link"}