Macroeconomics and Climate Change

Adrien Bilal and James Stock

No 20659, CEPR Discussion Papers from Centre for Economic Policy Research

Abstract: This paper surveys the literature that links macroeconomics and climate change. We organize our review into three categories: (i) loss and damage, which assesses long-run economic costs and non-market impacts from climate change; (ii) mitigation and the energy transition, which evaluates the macroeconomic consequences of shifting away from fossil fuels toward renewable energy; and (iii) adaptation, which explores the economic adjustments necessary to manage heat stress, more frequent severe weather events and rising seas. We discuss macroeconomic frameworks that quantify these structural shifts as well as empirical estimates that guide their calibration. We suggest areas in which macroeconomic research on climate is needed.

Keywords: Macroeconomics (search for similar items in EconPapers)
JEL-codes: E60 F55 H23 H41 Q43 Q50 R10 (search for similar items in EconPapers)
Date: 2025-09
References: Add references at CitEc
Citations:

Downloads: (external link)
https://cepr.org/publications/DP20659 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:cpr:ceprdp:20659

Ordering information: This working paper can be ordered from
https://cepr.org/publications/DP20659

Access Statistics for this paper

More papers in CEPR Discussion Papers from Centre for Economic Policy Research 33 Great Sutton Street, London EC1V 0DX, UK.
Bibliographic data for series maintained by CEPR ().