Demand or Supply? An Empirical Exploration of the Effects of Climate Change on the Macroeconomy

Ciccarelli, Matteo; Marotta, Fulvia

doi:10.2139/ssrn.3943014

Cited by 12 publications

(9 citation statements)

References 38 publications

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“…Some recent examples areDiluiso et al (2021),Pagliari (2021), andNispi Landi (2022).2 See alsoCiccarelli and Marotta (2021) andMoessner (2022) for an empircial estimates of the effects of environmental policy on inflation.3 The assumption of imperfect credibility is in line with the literature that tries to solve the "Forward guidance puzzle". Indeed, imperfect credibility of the public sector makes current output less dependent on future policy variables.ECB Working Paper Series No 2726 / September 2022…”

mentioning

confidence: 88%

Will the green transition be inflationary? Expectations matter

Ferrari

Landi

2022

SSRN Journal

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mentioning

confidence: 88%

Will the green transition be inflationary? Expectations matter

Ferrari

Landi

2022

SSRN Journal

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“…Although evidence shows small aggregate effects of climate policies on jobs (Ciccarelli and Marotta, 2021; OECD, 2021f), regional and local labour market effects can be large and distributional consequences sizable (Känzig, 2022). Without a commensurate policy response, the economic burden from the transition would fall disproportionally on certain regions, sectors, firms and households.…”

Section: Figure 18 Poorer Households Spend a Larger Share On Energymentioning

confidence: 99%

“…Empirical studies show that larger, more productive, low-emission and wellmanaged firms can be better equipped to respond to more stringent environmental policies and raise their productivity to gain higher market shares, while other firms that do not adapt sufficiently suffer negative effects (Albrizio et al, 2017). There is also evidence that environment-related innovation rises following stricter environmental policy (Koźluk and Zipperer, 2014;Ciccarelli and Marotta, 2021;Känzig, 2022). A shift of consumers preferences towards low-emission products will challenge existing business models in the Czech Republic.…”

Section: Allowing For Creative Destructionmentioning

confidence: 99%

Towards net zero in the Czech Republic

2023

OECD Economics Department Working Papers

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TOWARDS NET ZERO IN THE CZECH REPUBLIC UnclassifiedOECD Working Papers should not be reported as representing the official views of the OECD or of its member countries. The opinions expressed and arguments employed are those of the author(s). Working Papers describe preliminary results or research in progress by the author(s) and are published to stimulate discussion on a broad range of issues on which the OECD works. Comments on Working Papers are welcomed, and may be sent to the Economics Department. All Economics Department Working Papers are available at www.oecd.org/eco/workingpapers. This document and any map included herein are without prejudice to the status of or sovereignty over any territory, to the delimitation of international frontiers and boundaries and to the name of any territory, city or area.The statistical data for Israel are supplied by and under the responsibility of the relevant Israeli authorities. The use of such data by the OECD is without prejudice to the status of the Golan Heights, East Jerusalem and Israeli settlements in the West Bank under the terms of international law.

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“…These threats result from disruptions to income, consumption patterns, investments, exports, and changes in consumer behavior, influenced by migration and climate awareness. Climate change intensifies natural disasters and environmental degradation, leading to premature deaths, injuries, displacements, and adverse impacts on well-being and welfare 31 . Given the mounting evidence studying the links between climate change and the economy, our paper aims to develop an empirical framework for assessing the synchronization of movements of temperatures and precipitation patterns across countries and regions for the past 120 years.…”

Section: Introductionmentioning

confidence: 99%

Vulnerability to Climate Change: Evidence from a Dynamic Factor Model

Marotta,

Mumtaz

2024

Preprint

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Using a dynamic factor model with stochastic volatility, we examine the synchronization of temperature and precipitation changes across 166 countries and regions. Firstly, the model allows us to quantify the extent of the increase in global tempera- tures. Secondly, it offers a unique measure of how each country’s temperatures align with this common global movement, translating into a robust indicator of regional exposure to global warming. Our findings reveal that a common factor explains a significant portion of temperature variance globally, with the largest contribution observed in sub-Saharan Africa, Latin America, and Asia. Additionally, the com- mon factor accounts for the increase in temperature levels across these regions. In contrast, precipitation fluctuations exhibit more localized patterns. We find that countries with higher GDP per-capita have lower exposure to global temperature changes.

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Demand or Supply? An Empirical Exploration of the Effects of Climate Change on the Macroeconomy

Cited by 12 publications

References 38 publications

Will the green transition be inflationary? Expectations matter

Will the green transition be inflationary? Expectations matter

Towards net zero in the Czech Republic

Vulnerability to Climate Change: Evidence from a Dynamic Factor Model

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