Publication:
The Macroeconomic Implications of Climate Change Impacts and Adaptation Options: A Modeling Approach

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dc.contributor.authorAbalo, Kodzovi
dc.contributor.authorBoehlert, Brent
dc.contributor.authorBui, Thanh
dc.contributor.authorBurns, Andrew
dc.contributor.authorCastillo, Diego
dc.contributor.authorChewpreecha, Unnada
dc.contributor.authorHaider, Alexander
dc.contributor.authorHallegatte, Stephane
dc.contributor.authorJooste, Charl
dc.contributor.authorMcIsaac, Florent
dc.contributor.authorRuberl, Heather
dc.contributor.authorSmet, Kim
dc.contributor.authorStrzepek, Ken
dc.date.accessioned2025-05-29T17:21:38Z
dc.date.available2025-05-29T17:21:38Z
dc.date.issued2025-05-29
dc.description.abstractEstimating the macroeconomic implications of climate change impacts and adaptation options is a topic of intense research. This paper presents a framework in the World Bank's macrostructural model to assess climate-related damages. This approach has been used in many Country Climate and Development Reports, a World Bank diagnostic that identifies priorities to ensure continued development in spite of climate change and climate policy objectives. The methodology captures a set of impact channels through which climate change affects the economy by (1) connecting a set of biophysical models to the macroeconomic model and (2) exploring a set of development and climate scenarios. The paper summarizes the results for five countries, highlighting the sources and magnitudes of their vulnerability --- with estimated gross domestic product losses in 2050 exceeding 10 percent of gross domestic product in some countries and scenarios, although only a small set of impact channels is included. The paper also presents estimates of the macroeconomic gains from sector-level adaptation interventions, considering their upfront costs and avoided climate impacts and finding significant net gross domestic product gains from adaptation opportunities identified in the Country Climate and Development Reports. Finally, the paper discusses the limits of current modeling approaches, and their complementarity with empirical approaches based on historical data series. The integrated modeling approach proposed in this paper can inform policymakers as they make proactive decisions on climate change adaptation and resilience.en
dc.identifierhttp://documents.worldbank.org/curated/en/099722205282528064
dc.identifier.urihttps://hdl.handle.net/10986/43258
dc.languageEnglish
dc.language.isoen_US
dc.publisherWashington, DC: World Bank
dc.relation.ispartofseriesPolicy Research Working Paper; 11133
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttps://creativecommons.org/licenses/by/3.0/igo/
dc.subjectCLIMATE CHANGE
dc.subjectECONOMIC IMPACT ASSESSMENT
dc.titleThe Macroeconomic Implications of Climate Change Impacts and Adaptation Optionsen
dc.title.subtitleA Modeling Approachen
dc.typeWorking Paper
dspace.entity.typePublication
okr.date.disclosure2025-05-28
okr.date.lastmodified2025-05-29T15:07:28Zen
okr.doctypePolicy Research Working Paper
okr.doctypePublications & Research
okr.docurlhttp://documents.worldbank.org/curated/en/099722205282528064
okr.guid099722205282528064
okr.identifier.docmidIDU-dbd893e5-502b-457d-b2a9-54ccc5e6cf4c
okr.identifier.doi10.1596/1813-9450-11133
okr.identifier.externaldocumentum40016916
okr.identifier.internaldocumentum40016916
okr.identifier.reportWPS11133
okr.import.id7501
okr.importedtrueen
okr.language.supporteden
okr.pdfurlhttps://documents.worldbank.org/curated/en/099722205282528064/pdf/IDU-dbd893e5-502b-457d-b2a9-54ccc5e6cf4c.pdfen
okr.region.administrativeOther
okr.region.countryWorld
okr.topicEnvironment::Adaptation to Climate Change
okr.topicEnvironment::Environmental Economics & Policies
okr.unitGGSVP - VP
okr.unitSD Practice Group; EMFDR - EFI-MTI-Macro/Fiscal-Global Dir.
okr.volume1
relation.isAuthorOfPublication2fea2b63-4a74-5fbd-b964-71ef895df009
relation.isAuthorOfPublication.latestForDiscovery2fea2b63-4a74-5fbd-b964-71ef895df009
relation.isSeriesOfPublication26e071dc-b0bf-409c-b982-df2970295c87
relation.isSeriesOfPublication.latestForDiscovery26e071dc-b0bf-409c-b982-df2970295c87
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