US could lose a third of growth to climate change – Richmond Fed article

Polluted city skyline

Rising temperatures as a result of climate change could have far-reaching negative effects on the US economy, researchers warn in a recent article published by the Federal Reserve Bank of Richmond.

Riccardo Colacito, Bridget Hoffmann, Toan Phan and Tim Sablik note it is typically assumed that the agricultural sector and developing economies will suffer the most harm from climate change.

But their results, generated by studying changes in temperature by season and across states, imply the

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