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Prevailing economic research anticipates the burden of climate change falling on hot or poor nations. Some predict that cooler or wealthier economies will be unaffected or even see benefits from higher temperatures!
However, by studying the long-term impact of climate change using data on the most advanced economy in the world, we show that virtually all countries – whether rich or poor, hot or cold – and across all sectors – from agriculture to mining, and from retail trade to manufacturing – will suffer economically if the current trajectory of carbon emissions is maintained.
The paper can be viewed here