Climate Change Impacts and Adaptation Strategies In Italy. An Economic Assessment
Alessandra Sgobbi, Fondazione Eni Enrico Mattei
Carlo Carraro, University of Venice, Fondazione Eni Enrico Mattei, CEPR, CEPS, CMCC and CESifo
In this paper, the economic value of the impacts of climate change is assessed for different Italian economic sectors and regions. Sectoral and regional impacts are then aggregated to provide a macroeconomic estimate of variations in GDP induced by climate change in the next decades. Autonomous adaptation induced by changes in relative prices and in stocks of natural and economic resources is fully taken into account. The model also considers international trade effects. Results show that in Italy aggregate GDP losses induced by climate change are likely to be small. However, some economic sectors (e.g. tourism) and the alpine regions will suffer significant economic damages.
Alessandra Sgobbi and Carlo Carraro,
"Climate Change Impacts and Adaptation Strategies In Italy. An Economic Assessment"
(February 12, 2008).
Fondazione Eni Enrico Mattei Working Papers.
Working Paper 170.