This paper evaluates the global economic consequences of physical climate risks under two Shared Socioeconomic Pathways (SSP 1-2.6 and SSP 2-4.5) using firm-level evidence. Firstly, we estimate the historical sectoral productivity changes from chronic climate risks (gradual changes in temperature and precipitation) and extreme climate conditions (representative of heatwaves, coldwaves, droughts, and floods). Secondly, we produce forward-looking sectoral productivity changes for a global multisectoral sample of firms. For floods, these estimates account for the persistent productivity changes from the damage to firms’ physical capital. Thirdly, we assess the macroeconomic impact of these shocks within the global, multisectoral, intertemporal general equilibrium model: G-Cubed. The results indicate that, in the absence of additional adaptation relative to that already achieved by 2020, all the economies would experience substantial losses under the two climate scenarios and the losses would increase with global warming. The results can be useful for policymakers and practitioners interested in conducting climate risk analysis.
This paper evaluates the global economic consequences of physical climate risks under two Shared Socioeconomic Pathways (SSP 1-2.6 and SSP 2-4.5) using firm-level evidence. Firstly, we estimate the historical sectoral productivity changes from chronic climate risks (gradual changes in temperature and precipitation) and extreme climate conditions (representative of heatwaves, coldwaves, droughts, and floods). Secondly, we produce forward-looking sectoral productivity changes for a global multisectoral sample of firms. For floods, these estimates account for the persistent productivity changes from the damage to firms’ physical capital. Thirdly, we assess the macroeconomic impact of these shocks within the global, multisectoral, intertemporal general equilibrium model: G-Cubed. The results indicate that, in the absence of additional adaptation relative to that already achieved by 2020, all the economies would experience substantial losses under the two climate scenarios and the losses would increase with global warming. The results can be useful for policymakers and practitioners interested in conducting climate risk analysis.
A handy guide to every religion practised in India In India, the birthplace of some of the world’s major faiths and home to many more, religion is a way of life, existing as much in temples, mosques, churches and wayside shrines as it does in social laws, cultural practices and the political arena. The Religions of India contains, in a single volume, a comprehensive account of every major faith practised in the country today—Hinduism, Islam, Sikhism, Christianity, Buddhism, Jainism, Zoroastrianism, Judaism, and the Bahai faith. This meticulously researched work traverses a vast range of topics—from Somnatha Temple and Babri Masjid to Tirthankaras and the Akali Movement; from the Shariat and the Eucharist to Shabuoth and nirvana. It places each religion in its historical context, tracing its evolution from its inception to the present. • Incisive profiles of founders and key patrons, deities, saints, mystics and philosophers • Information on and insights into lesser-known and regional forms of worship, as well as important festivals, customs and rituals • Extensively cross-referenced with suggestions for further reading
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