New IMF study on "The Growth Effects of Natural Disasters" finds that catastrophic floods can lower growth by up to 3 percentage points, while once-in-100-year storms or heatwaves reduce growth by ~0.5pp and extreme droughts by ~1pp.
www.imf.org/en/publicati...
www.imf.org
We construct standardized climate anomalies from daily observations and carefully calibrate physical thresholds to identify storms, floods, droughts, heatwaves, and cold snaps across 196 countries ove...
