Ripple resonance amplifies economic welfare loss from weather extremes. (27th October 2021)
- Record Type:
- Journal Article
- Title:
- Ripple resonance amplifies economic welfare loss from weather extremes. (27th October 2021)
- Main Title:
- Ripple resonance amplifies economic welfare loss from weather extremes
- Authors:
- Kuhla, Kilian
Willner, Sven Norman
Otto, Christian
Geiger, Tobias
Levermann, Anders - Abstract:
- Abstract: The most complex but potentially most severe impacts of climate change are caused by extreme weather events. In a globally connected economy, damages can cause remote perturbations and cascading consequences—a ripple effect along supply chains. Here we show an economic ripple resonance that amplifies losses when consecutive or overlapping weather extremes and their repercussions interact. This amounts to an average amplification of 21% for climate-induced heat stress, river floods, and tropical cyclones. Modeling the temporal evolution of 1.8 million trade relations between > 7000 regional economic sectors, we find that the regional responses to future extremes are strongly heterogeneous also in their resonance behavior. The induced effect on welfare varies between gains due to increased demand in some regions and losses due to demand or supply shortages in others. Within the current global supply network, the ripple resonance effect of extreme weather is strongest in high-income economies—an important effect to consider when evaluating past and future economic climate impacts.
- Is Part Of:
- Environmental research letters. Volume 16:Number 11(2021)
- Journal:
- Environmental research letters
- Issue:
- Volume 16:Number 11(2021)
- Issue Display:
- Volume 16, Issue 11 (2021)
- Year:
- 2021
- Volume:
- 16
- Issue:
- 11
- Issue Sort Value:
- 2021-0016-0011-0000
- Page Start:
- Page End:
- Publication Date:
- 2021-10-27
- Subjects:
- consecutive disasters -- economic ripple resonance -- repercussion resonance -- weather extremes -- supply network -- climate impacts -- climate change
Environmental sciences -- Periodicals
Human ecology -- Research -- Periodicals
Environmental health -- Periodicals
333.7 - Journal URLs:
- http://iopscience.iop.org/1748-9326 ↗
http://www.iop.org/EJ/toc/1748-9326 ↗
http://ioppublishing.org/ ↗ - DOI:
- 10.1088/1748-9326/ac2932 ↗
- Languages:
- English
- ISSNs:
- 1748-9326
- Deposit Type:
- Legaldeposit
- View Content:
- Available online (eLD content is only available in our Reading Rooms) ↗
- Physical Locations:
- British Library DSC - 3791.592955
British Library DSC - BLDSS-3PM
British Library HMNTS - ELD Digital store - Ingest File:
- 19986.xml