Damage Costs of Climate Change through Intensification of Tropical Cyclone Activities: An Application of FUND
Richard Tol (),
Daiju Narita () and
David Anthoff ()
No WP259, Papers from Economic and Social Research Institute (ESRI)
Climate change may intensify tropical cyclone activities and amplify their negative economic effects. We simulate the direct economic impact of tropical cyclones enhanced by climate change with the integrated assessment model FUND 3.4. The results show that in the base case, the direct economic damage of tropical cyclones ascribed to the effect of climate change amounts to $19 billion globally (almost the same level as the baseline (current) global damage of tropical cyclones) in the year 2100, while the ratio to world GDP is 0.006%. The US and China account for much of the absolute damage, whereas small island states incur the largest damage if evaluated as the share to GDP. The results also show that they are sensitive to the choice of baseline and of the wind-speed elasticity of storm damage.
Keywords: climate change; tropical storms; economic impact (search for similar items in EconPapers)
Pages: 27 pages
New Economics Papers: this item is included in nep-ene and nep-env
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (21) Track citations by RSS feed
Downloads: (external link)
https://www.esri.ie/pubs/WP259.pdf First version, 2008 (application/pdf)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:esr:wpaper:wp259
Access Statistics for this paper
More papers in Papers from Economic and Social Research Institute (ESRI) Contact information at EDIRC.
Bibliographic data for series maintained by Sarah Burns ().