The Independent Authority for Fiscal Responsibility (AIReF) publishes the technical documents that support the Opinion on the Long-term Sustainability of Public Administrations, presented on March 31. This document analyzes the economic implications of climate change: Oxford Economics climate scenarios, main impact channels and results.
These scenarios are constructed from OE’s Global Economic Model (GEM), which models global and regional economic activity. It covers 85 countries in detail, plus the Eurozone as a whole, and six trading blocs grouping the rest of the world economy, which are interconnected through global assumptions on trade volume, capital flows,
interest and exchange rates.