Climate damages in a globalized world: the dynamic agent-based model Acclimate

In an interconnected global economy, the effects of extreme weather events are not necessarily locally confined but can have repercussions in other parts of the world, e.g. by rippling through supply chains. A better understanding of the overall economic implications of weather extremes is important to comprehensively estimate the costs of future warming and to develop suitable adaptation strategies. In this talk, I present the dynamic agent-based model Acclimate designed to study the global economic response dynamics to weather extremes. I show results of an application of the model to heat events and river floods based on recent trade data.

Speaker: Leonie Wenz, UC Berkeley