Climate change will damage the economies of countries whether they are rich or poor, hot or cold, by the year 2100, economists wrote in a new report, dispelling the notion that impoverished, warm countries will suffer the most on a warming planet.
Researchers who examined data from 174 countries over 50 years found that persistent temperature changes above or below a country's historical norm adversely affected economic growth, regardless of how warm the country is.
The United States could see a 10 percent loss in gross domestic product without significant policy change according to the study, which was published Monday by the U.S. National Bureau of Economic Research, a nonprofit economic research organization.