Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/282842 
Year of Publication: 
2024
Series/Report no.: 
IZA Discussion Papers No. 16715
Publisher: 
Institute of Labor Economics (IZA), Bonn
Abstract: 
This article reviews the literature on the economic impacts of disasters caused by extreme weather and climate events to draw lessons on how societies can better manage these risks. While evidence that richer, better governed societies suffer less and recover faster from climate extremes suggests adaptation, knowledge gaps remain, and little is known about the efficiency of specific adaptation actions. I review various "no or low" regrets adaptation options which are recommended when uncertainties over climate change impacts are high. I discuss how governments can play an important role in adaptation by directly providing public goods to manage disaster risks or by facilitating private agents' adaptation responses, but also highlight the political economy of policy and coordination failures.
Subjects: 
climate change policy
natural disasters
climate adaptation
risk management
climate extremes
JEL: 
Q54
Q56
O13
O44
I30
Document Type: 
Working Paper

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