Simulating the economic impacts of climate change in the Mid-Atlantic Region

Abstract

All 5 sectors of focus in the US National Assessment have either formal designations in widely used economic databases and models or can be mapped into them. Agriculture and Forestry appear in the US Department of Commerce Standard Industrial Classification (SIC). Coastal areas can be mapped into Real Estate and various tourism-related sectors (e.g., Hotels, Restaurants), human health can be mapped into Household Welfare and the Healthcare sector, and even ecosystems can be mapped into Recreation and imputed values for aesthetic benefits and wildlife preservation. However, other sectors are important in analyzing adaptation and mitigation, such as construction (dredging for beach nourishment), pump and pipe manufacturing (irrigation and flood control)