ABSTRACT
The reason for expecting higher losses in poorer
regions, at least as a fraction of total income, is that
developing economies are more vulnerable to cli-
mate variability (e.g., a larger share o f their economy
is directly exposed to climatic events). However,
even under the (optimistic) assumption that poorer
countries will not be affected harder than richer
countries, on a relative basis, it is shown that distri-
butional considerations are important.
