Impacts of climate extreme events on production and trade in four Mediterranean countries

Céline Gimet

Economics Bulletin, 2012, vol. 32, issue 2, 1755-1764

Abstract: The Mediterranean is one of the areas the most exposed to climate change. Setting up measures of prevention and adaptation is a priority for the region, to reduce climate costs. The aim of this paper is to highlight the economic losses already incurred by the Mediterranean countries due to extreme events. A structural VAR model allows to assess the vulnerability of the real, monetary and financial sectors of four countries in the region, characterized by different economic profiles, following periods of extreme climatic change. The analysis reveals that all countries in the sample already know significant economic losses which may increase with the strengthening of the climate change if no action is taken.

Keywords: Climate extreme events; Economic costs; Mediterranean region; Structural VAR model. (search for similar items in EconPapers)
JEL-codes: E0 Q5 (search for similar items in EconPapers)
Date: 2012-06-18
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