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CBO’s Projection of the Effect of Climate Change on U.S. Economic Output: Working Paper 2020-06

Evan Herrnstadt and Terry Dinan

No 56505, Working Papers from Congressional Budget Office

Abstract: As part of its long-term economic forecast, the Congressional Budget Office projects the effect of climate change on the growth of U.S. real gross domestic product (GDP). CBO projects that climate change will, on net, reduce average annual real GDP growth by 0.03 percentage points from 2020 to 2050, relative to growth that would occur under the climatic conditions that prevailed at the end of the 20th century. That annual growth differential accumulates to a 1.0 percent reduction in the projected level of real GDP in 2050. Of that 1.0 percent reduction

JEL-codes: Q54 (search for similar items in EconPapers)
Date: 2020-09-21
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Handle: RePEc:cbo:wpaper:56505