Extreme Weather Events and Climate Change: Economic Impacts and Adaptation Policies

Susana Ferreira

No 16715, IZA Discussion Papers from Institute of Labor Economics (IZA)

Abstract: This article reviews the literature on the economic impacts of disasters caused by extreme weather and climate events to draw lessons on how societies can better manage these risks. While evidence that richer, better governed societies suffer less and recover faster from climate extremes suggests adaptation, knowledge gaps remain, and little is known about the efficiency of specific adaptation actions. I review various "no or low" regrets adaptation options which are recommended when uncertainties over climate change impacts are high. I discuss how governments can play an important role in adaptation by directly providing public goods to manage disaster risks or by facilitating private agents' adaptation responses, but also highlight the political economy of policy and coordination failures.

Keywords: risk management; climate adaptation; natural disasters; climate change policy; climate extremes (search for similar items in EconPapers)
JEL-codes: I30 O13 O44 Q54 Q56 (search for similar items in EconPapers)
Pages: 35 pages
Date: 2024-01
New Economics Papers: this item is included in nep-agr, nep-env and nep-res
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Published - published in: Annual Review of Resource Economics, 2024, 16, 207-231

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Journal Article: Extreme Weather Events and Climate Change: Economic Impacts and Adaptation Policies (2024)
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