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...

पूर्ण विवरण

ग्रंथसूची विवरण
मुख्य लेखक: Tovar Mora, Camilo
अन्य लेखक: Wu, Yiqun, Zheng, Tianxiao
स्वरूप: पत्रिका
भाषा:English
प्रकाशित: Washington, D.C. : International Monetary Fund, 2022.
श्रृंखला:IMF Working Papers; Working Paper ; No. 2022/189
विषय:
ऑनलाइन पहुंच:Full text available on IMF
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490 1 |a IMF Working Papers 
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500 |a <strong>On-Campus Access:</strong> No User ID or Password Required 
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520 3 |a 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. 
538 |a Mode of access: Internet 
650 7 |a Globalization  |2 imf 
650 7 |a International Finance Forecasting and Simulation  |2 imf 
650 7 |a International Lending and Debt Problems  |2 imf 
650 7 |a Macroeconomic Aspects of International Trade and Finance  |2 imf 
650 7 |a Open Economy Macroeconomics  |2 imf 
700 1 |a Wu, Yiqun. 
700 1 |a Zheng, Tianxiao. 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 2022/189 
856 4 0 |z Full text available on IMF  |u https://elibrary.imf.org/openurl?genre=journal&issn=1018-5941&volume=2022&issue=189  |z IMF e-Library