GTAP Resources: Resource Display
| GTAP Resource #7521 |
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"Estimating Economy-Wide Climate Change Impacts on the U.S. Economy: Implications from FrEDI-USREP" by Yuan, Mei, Tony Gardella, Jonathon Becker, Corinne Hartin, Kenneth Strzepek, Erin McDuffie, Marcus Sarofim, Jim Neumann, James McFarland, Mustafa Babiker and Sergey Paltsev Abstract Climate models often assess impacts on specific sectors and regions in isolation, neglecting the interactions across sectors, regions and time, as well as the ripple effects through goods and factor markets. As a result, aggregated partial impacts may fail to represent the full economy-wide effects of climate damages. To address this limitation, we incorporate single-sector damage estimates derived from the EPA Framework for Evaluating Damages and Impacts (FrEDI) into MIT U.S. Regional Energy Policy (USREP) model, a multi-sector multi-region computable general equilibrium model, to trace sectoral and regional dynamics. The FrEDI-USREP model includes six contiguous U.S. regions, accounts for demographic group differences, and focuses on the three most significant climate damage categories: health, infrastructure and labor productivity. The heterogenous climate impacts reshape regional comparative advantages, inducing factor movement that may exacerbate regional disparity and factor price changes that drive distributional impacts. We find general equilibrium effects up to twice single-sector partial impacts. Northern regions gain GDP in building damage scenarios and lose minimally in the lost labor scenario, but all regions, including northern, face GDP losses when impacts on transportation increase cost of consumption that leads to a reduction in investment. |
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- Climate impacts - Other data bases and data issues - Dynamic modeling - North America |
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Public Access  Paper (1.1 MB) Replicated: 0 time(s)Restricted Access No documents have been attached. Special Instructions No instructions have been specified. |
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Last Modified: 9/15/2023 2:05:45 PM
