Economic Costs of Extratropical Storms Under Climate Change: An Application of FUND

January 13, 2009
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Extratropical cyclones have attracted some attention in climate policy circles as a possible significant damage factor of climate change. This study conducts an assessment of economic impacts of increased storm activities under climate change with the integrated assessment model FUND 3.4. In the base case, the direct economic damage of enhanced storms due to climate change amounts to $2.4 billion globally (approximately 35% of the total economic loss of storms at present) at the year 2100, while its ratio to the world GDP is 0.0007%. The paper also shows various sensitivity runs exhibiting up to 4 times the level of damage relative to the base run.

Author(s)
Daiju Narita
Richard Tol
David Anthoff
Research Area(s)

Publication Details

Publisher

ESRI

Place of Publication

Dublin

Date of Publication

January 13, 2009

ESRI Series

ESRI Working Paper 274