Stress Testing the Global Economy to Climate Change-Related Shocks in Large and Interconnected Economies /
We stress test the global economy to extreme climate change-related shocks on large and interconnected economies. Our analysis (i) identifies large and interconnected economies vulnerable to climate change-related shocks; (ii) estimates these economies' external financing needs-at-risk due to t...
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| Diğer Yazarlar: | , |
| Materyal Türü: | Dergi |
| Dil: | English |
| Baskı/Yayın Bilgisi: |
Washington, D.C. :
International Monetary Fund,
2022.
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| Seri Bilgileri: | IMF Working Papers; Working Paper ;
No. 2022/189 |
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| Online Erişim: | Full text available on IMF |
| Özet: | We stress test the global economy to extreme climate change-related shocks on large and interconnected economies. Our analysis (i) identifies large and interconnected economies vulnerable to climate change-related shocks; (ii) estimates these economies' external financing needs-at-risk due to these shocks, and (iii) quantifies the spillovers to the global economy using a global network model. We show that large and interconnected economies vulnerable to climate change could trigger a drain of USD 1.8 trillion in international reserves (2 percent of 2019's global GDP). Domestic and multilateral macroeconomic policies can help reduce these global lossess to about USD 0.8 trillion. The scenario highlights the importance of considering global spillovers when assessing the impact of climate change-related shocks. |
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| Diğer Bilgileri: | <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required |
| Fiziksel Özellikler: | 1 online resource (33 pages) |
| Materyal Türü: | Mode of access: Internet |
| ISBN: | 9798400219641 |
| ISSN: | 1018-5941 |
| Erişim: | Electronic access restricted to authorized BRAC University faculty, staff and students |