Exposures to climate change's physical risks in Chile

Magdalena Cortina and Carlos Madeira

Latin American Journal of Central Banking (previously Monetaria), 2023, vol. 4, issue 2

Abstract: We estimate real estate’s exposure in Chile to five weather risks, including labor productivity loss due to heat, fires, floods, drought coastal deterioration as measured by the Chilean Climatic Risk Atlas (ARCLIM) and Climate Impact Explorer (CIE) sources. According to our joint ARCLIM-CIE indicator, we measure risk exposure for the appraisal value of all properties of 39% for Chile and 51%, 36%, 36% and 27% for the Central, North, Metropolitan and South macrozones, respectively. Flooding is the greatest risk for Chile, followed by drought. We find that the CIE source underestimates the climate exposures in Chile relative to the ARCLIM measures, particularly for the flooding and drought risks.

Keywords: Global warming; Latin america; Exposures to climate change; Physical risks from climate change; Real estate (search for similar items in EconPapers)
JEL-codes: O44 O54 Q51 Q59 R11 (search for similar items in EconPapers)
Date: 2023
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Working Paper: Exposures to climate change’s physical risks in Chile (2023)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:lajcba:v:4:y:2023:i:2:s266614382300011x

DOI: 10.1016/j.latcb.2023.100090

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