The National Academies of Sciences, Engineering, and Medicine will convene an ad hoc planning committee to organize a 2-day hybrid workshop to examine the state of understanding of physical climate risks and implications for the macroeconomy. This workshop will build on a prior workshop organized by the Roundtable on Macroeconomics and Climate-Related Risks and Opportunities. In particular, this workshop will explore complex climate dynamics—including nonlinear, compounding, and cascading risks—and how these dynamics will affect and may propagate in the macroeconomy. The workshop will also consider physical climate risks across spatial and temporal scales, distributional effects in socioeconomic systems, and connections and feedback between these systems. Discussions will focus on identifying needs and opportunities to advance scientific understanding and foster transdisciplinary dialogue to inform macroeconomic modeling.

Research on the Dynamics of Climate and the Macroeconomy: Proceedings of a Workshop
2024

Workshop

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Understanding the intricate relationship between climate dynamics and the macroeconomy is crucial for informed policy and long-term planning. However, there is a gap between climate modeling and the understanding of its full macroeconomic effects, partly due to challenges such as nonlinear climate dynamics, feedback loops, and model complexity. To address this, the National Academies of Sciences, Engineering, and Medicine, under the auspices of the Roundtable on Macroeconomics and Climate-Related Risks and Opportunities, convened a workshop on November 1-2, 2023, to consider the state of knowledge on cascading, compounding, and nonlinear physical climate risks and their implications for the macroeconomy. Through panels of invited speakers and interactive breakout discussions, the workshop focused on physical climate risks and explored how different disciplines assess and model impacts. Workshop discussions explored current and historical examples of shocks to the macroeconomy and how those have been modeled, and experts shared some of the lessons they have learned that may be relevant to policy makers today.

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92 pages · 6 x 9 · paperback
ISBN Paperback: 0-309-72127-X
ISBN Ebook: 0-309-72128-8
DOI: https://doi.org/10.17226/27811

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National Academies of Sciences, Engineering, and Medicine. 2024. Research on the Dynamics of Climate and the Macroeconomy: Proceedings of a Workshop. Washington, DC: The National Academies Press.

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Front Matter i-xii
Overview 1-4
1 Introduction 5-8
2 Nonlinear, Cascading, and Compounding Risks in the Climate 9-26
3 Nonlinear, Cascading, and Compounding Risks in the Economy 27-40
4 Capacity Building and Collaboration 41-44
5 Past and Contemporary Lessons in Macroeconomic Shocks and Risks 45-52
6 Perspectives on Future Directions 53-58
7 Examples of Research Agenda Components 59-64
8 Concluding Thoughts 65-66
References 67-70
Appendix A Workshop Agenda 71-74
Appendix B Statement of Task 75-76
Appendix C Planning Committee Biographies 77-80

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Research on the Dynamics of Climate and the Macroeconomy: Proceedings of a Workshop (2024)

Chapter: Appendix B Statement of Task

Appendix B

Statement of Task

Publication information

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Research on the Dynamics of Climate and the Macroeconomy: Proceedings of a Workshop (2024)

Chapter: Appendix B Statement of Task

Appendix B Statement of Task

Appendix B

Statement of Task