It is hot.favorite breaking the water main, deceleration of train, corn, loadback ring It’s hot — making construction work and harvesting difficult, not to mention the effects on the human body.
All of that must be reflected in the GDP numbers for the second quarter.
The short answer is yes. The longer answer is that it’s very difficult to track its impact in real time, but economists are working to make it better.
For more than a decade, researchers have constructed projections of the potential impact of climate change on the economy. A. 2018 paper foundFor example, annual growth in state-level economic output could decline by 0.15 to 0.25 percentage points for each degree increase in mean summer temperature, and economic growth could fall by up to a third over the next 100 years. There is a nature. And it’s only in the US.
However, these estimates benefit from long-term datasets that allow analysts to compare the effects of temperature and extreme weather events over time. They also tend to be more predictive of the future, generally yield more spectacular results, and are better suited to assess the effectiveness of policy interventions to curb emissions.
“As a profession, we have really focused on the future economic impact of climate change because we have focused on how we should tax carbon emissions.” Derek Lemoyne, Associate Professor of Economics at the University of Arizona. “We didn’t pay much attention to what climate change was already doing, partly because we didn’t know it would happen so quickly.”
But Dr. Remoin is working to do just that, with the goal of estimating how climate change is affecting the economy at about the same time that statistics such as GDP are being compiled. increase.
Other researchers We are committed to developing instruments of economic growth that integrate not only the production of goods and services, which themselves have the potential to accelerate climate change, but also environmental and social factors.
