Conference Agenda
Overview and details of the sessions of this conference. Please select a date or location to show only sessions at that day or location. Please select a single session for detailed view (with abstracts and downloads if available).
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Daily Overview |
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Climate Damages and Inequality Location: B128 Session Chair: Jannik Reinbold, Leipzig University | |
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Heat-Induced Mortality and Life-Cycle Welfare along the Income Distribution 1: Leipzig University, Germany; 2: DFG Research Training Group ECO-N; 3: CESifo Research Network; 4: Halle Institute for Economic Research (IWH) Higher atmospheric carbon concentrations increase extreme heat on both the extensive and intensive margins. We develop a stochastic life-cycle model featuring heat-induced mortality risk, endogenous adaptation, and biological aging to study the heterogeneous welfare implications of heat. Differences in exogenous wage income profiles lead to asymmetric heat damages. Comparing life-cycle outcomes under daily heat-shock distributions from an RCP 8.5 climate to an RCP 2.6 benchmark, we find that heat-induced mortality generates substantial and regressive welfare losses: average losses amount to 0.9% in CEV, ranging from 1.3% for the poorest income decile to 0.6% for the richest. Welfare losses among poor agents are driven mainly by reduced survival, whereas richer agents are affected more through foregone consumption due to higher adaptation expenditures. Climate denial raises relative welfare losses among high-income agents by reducing their protective adaptation. | |