An Assessment of Global Macro Economic Impacts caused by Sea Level Rise

Abstract

 Economic assessment of sea level rise has been conducted yet. However, theirs climate and socioeconomic scenario is old or they ignore the cumulative dynamic damage of capital stock. This study use a dynamic general equilibrium model to evaluate the comprehensive economic impacts caused by sea level rise. The data for the model is direct damages based on four climate scenarios (RCPs) and three socioeconomic scenarios (SSPs) that are the newest scenarios for assessment of climate change. The result is loss of household consumption. In RCP8.5 and SSP1, the loss is 0.044% and In RCP8.5 and SSP3 is 0.028%. When the direct damage influences not only capital but also emergency cost, the loss is 0.012% to 0.0013%. The most affected regions are Asia and Middle East and South America.