The role of heat waves and droughts on regional EU economies
Sarah Spiteri & co-authors
Extreme climate events such as heat waves and droughts are becoming more frequent and severe in Europe, posing significant risks to regional economies. This study uses a set of machine learning models to predict the short-term economic impacts of these events on agriculture, industry, and manufacturing across 1,117 EU regions. The findings reveal that, while agriculture is the most severely affected sector, industry and manufacturing are not immune, highlighting the need for targeted adaptation policies to mitigate the economic consequences of climate extremes.
The role of heat waves and droughts in regional EU economies - SUERF Policy Brief, No. 1571