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The role of climate variables in Italian economic fluctuations: evidence from macro-regional analysis
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Resumo(s)
This work project explores the economic repercussions of climate variability on Italy’s
macroeconomic stability, focusing on inflation, unemployment, disposable income, and
housing expenditure. Using a Panel Vector Autoregressive model with exogenous regressors
(PVARX), it examines the differential impacts of temperature and precipitation shocks across
Italy’s macro-regions. Findings reveal significant climate-driven inflationary pressures and
labour market shifts, with marked regional heterogeneity, while housing expenditure remains
unaffected. By addressing critical gaps in the literature, this study provides valuable insights
into climate-economy dynamics, offering evidence-based recommendations for adaptive policy
measures to support economic resilience against evolving climate challenges.
Descrição
Palavras-chave
Economy Climate Italy Panel data Regions Inflation Unemployment Income Temperature Precipitation