This article reviews a rapidly growing literature on how climatic risks and events affect public finances around the world. This literature includes empirical evaluations of how past climatic events have affected fiscal outcomes, empirical and model-based assessments of how climatic risks affect...

A growing literature has sought to quantify the impacts of natural disasters on economic growth, but has found seemingly contradictory results, ranging from positive to very large negative effects. This paper brings a novel macroeconomic model-based perspective to the data. We present a...