Macroeconomists should integrate climate change data into their models, research finds
Paper calls for the use of scientific data on weather and the prediction of extreme climate events
Researchers need to integrate the effects derived from climate change into their macroeconomic models, a working paper published by the Bank of England says.
Climate change and the macro-economy: a critical review by Sandra Batten identifies the channels through which climate change affects the economy and puts forward some recommendations to improve economic analysis by incorporating them.
“It is possible that the economic impacts of climate will be increasingly felt through many local
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