impacts of climate change on Australia and New Zealand: a Gross Cell Product analysis by land cover
This paper examines the newly constructed geographically scaled economic output measure, Gross Cell Product (GCP), of Australia and New Zealand to quantify the impacts of climate change in the region. The paper discusses advantages of using the GCP instead of the Gross Domestic Product. The paper reveals that the GCP falls sharply as temperature increases in the region. A 1°C increase in temperature would decrease the productivity with an elasticity of −2.4. A 1 per cent decrease in precipitation would decrease productivity with an elasticity of −2.3.