(i) new economic impact function based on the recent macro- econometric analysis of the effect of historic temperature shocks on economic growth in multiple countries by Burke et al., projected onto the 8 major regions of the PAGE model using population-weighted temperatures, and adapted to fit with the single year consumption-only approach for climate impacts used in PAGE; (vii) focus on autonomous adaptation as part of the Burke et al. economic impact function, with planned adaptation restricted to SLR impacts.
(i) new economic impact function based on the recent macro- econometric analysis of the effect of historic temperature shocks on economic growth in multiple countries by Burke et al., projected onto the 8 major regions of the PAGE model using population-weighted temperatures, and adapted to fit with the single year consumption-only approach for climate impacts used in PAGE; (vii) focus on autonomous adaptation as part of the Burke et al. economic impact function, with planned adaptation restricted to SLR impacts.