Climate Shocks and Wealth Inequality in the United Kingdom: Evidence from Monthly Data

Xin Sheng (), Carolyn Chisadza, Rangan Gupta and Christian Pierdzioch
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Xin Sheng: Lord Ashcroft International Business School, Anglia Ruskin University, Chelmsford, United Kingdom

No 202250, Working Papers from University of Pretoria, Department of Economics

Abstract: This paper investigates both the linear and nonlinear effects of climate risk shocks on wealth inequality in the United Kingdom using the local projections (LPs) method, based on high-frequency, i.e., monthly data. The linear results show that climate risk shocks lead to an increase in wealth inequality in the longer term. The nonlinear results present some evidence of heterogeneous responses of wealth inequality to climate risk variable shocks between high- and low- climate risk regimes.

Keywords: climate change; wealth inequality; United Kingdom; temperatures (search for similar items in EconPapers)
JEL-codes: D63 O13 O51 (search for similar items in EconPapers)
Pages: 20 pages
Date: 2022-10
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Persistent link: https://EconPapers.repec.org/RePEc:pre:wpaper:202250

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