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This week’s FEEM seminar focuses on the recent development of an integrated-assessment model with high regional resolution in a joint effort by two scholars affiliated to IIES, University of Goteborg, CEPR, NBER and Yale University. This model features 19,000 regions with substantial region-specific detail, as well as rich economic interactions between regions and uncertainty about weather and climate.  It also introduces economic mechanisms – such as spatial adaptation, leakage in response to differential climate policy across regions, and (partial) insurance against shocks to weather and climate – upon which these models are usually silent.

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