@article{Bosello:121700,
      recid = {121700},
      author = {Bosello, Francesco and Eboli, Fabio and Pierfederici,  Roberta},
      title = {Assessing the Economic Impacts of Climate Change. An  Updated CGE Point of View},
      address = {2012-01},
      number = {824-2016-54671},
      series = {CCSD},
      pages = {29},
      year = {2012},
      abstract = {The present research describes a climate change integrated  impact assessment exercise, whose economic evaluation is  based on a CGE approach and modeling effort. Input to the  CGE model comes  from a wide although still partial set of  up-to-date bottom-up impact studies. Estimates indicate  that a temperature increase of 1.92°C compared to  pre-industrial levels in 2050 could lead to global GDP  losses of approximately 0.5% compared to a hypothetical  scenario where no climate change is assumed to occur.  Northern Europe is expected to benefit from the evaluated  temperature increase (+0.18%), while Southern and Eastern  Europe are expected to suffer from the climate change  scenario under analysis (-0.15% and -0.21% respectively).  Most vulnerable countries are the less developed regions,  such as South Asia, South-East Asia, North Africa and  Sub-Saharan Africa. In these regions the most exposed  sector is agriculture, and the impact on crop productivity  is by far the most important source of damages. It is worth  noting that the general equilibrium estimates tend to be  lower, in absolute terms, than the bottom-up, partial  equilibrium estimates. The difference is to be attributed  to the effect of market-driven adaptation. This partly  reduces the direct impacts of temperature increases,  leading to lower damage estimates. Nonetheless these remain  positive and substantive in some regions. Accordingly,  market-driven adaptation cannot be the solution to the  climate change problem.},
      url = {http://ageconsearch.umn.edu/record/121700},
      doi = {https://doi.org/10.22004/ag.econ.121700},
}