New Model to Predict Economic Loss in Coastal Cities in the Next Few Years
Some envision a world where electricity is free and clean, and it is all powered by solar panels.
Researchers at MIT have a much more radical idea. They propose an energy grid that is powered by sea level rise.
In the coming decade, the extent of the sea level in coastal areas around the world will likely increase, with much greater consequences for the economy of the affected areas.
However, sea level rise will not be the only issue. People will also have to deal with flooding and other problems related to sea level rise and changing climate.
A team of researchers at MIT have published a new study that would have been unthinkable a decade ago. Their team has modeled what will happen to the economy of coastal areas in the coming years, based on sea level rise.
The team used economic and sea level research, and found that coastal areas would experience a huge slowdown in economic activity if sea level rises by 2 meters. If this prediction turns out to be correct, it will be a disaster for the local economy.
The team used a simplified version of the economic models used by researchers around the world. The model used to quantify the economic consequences of sea level rise used the same kind of modeling tools used by economists to predict oil, gas, and other economic activity. The MIT team used a new approach to incorporate sea level rise into their model.
The researchers used a new method called dynamic economic modeling, which quantifies the effects of sea level rise on economic activity by mapping the path of the economic activity.
The researchers have found that it is a mistake to assume that sea level will remain at the same level for the next 40 years. In fact, sea level rise will be an issue in the coming decade, affecting the local economy by $20 billion per year.
Although the economists have yet to find the exact reason for the economic slowdown caused by sea level rise, their research has shown that the economic impact of sea level rises will grow. The team used the same modeling tools that economists use to analyze the global economy in a changing world.