Recent research highlights the growing macroeconomic consequences of extreme weather events in developed nations. Findings from the Centre for Economic Policy Research (CEPR) indicate that climate-related disruptions such as floods, heatwaves, and storms are increasingly affecting GDP growth, labor productivity, and public infrastructure spending in advanced economies. These impacts are not only immediate but can also lead to long-term economic instability, particularly when recovery efforts strain fiscal resources. The study underscores the importance of resilient infrastructure and proactive policy planning to mitigate financial risks associated with climate volatility.
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The macroeconomic implications of extreme weather events: Insights from advanced economies CEPR