It follows that it is important to collect granular disaggregated data which are currently not readily available across statistical providers worldwide. A model-based assessment of the consequences of climate change also requires measuring how households and firms form their expectations around physical and transition risks. This is different to data collected elsewhere, as expectations about these developments shape the economy already today.
A natural way to elicit such beliefs held by households and firms is by asking the appropriate questions through surveys, either by incorporating questions into existing survey platforms, or by designing alternative survey instruments, which can capture the wealth of information occurring at high frequency, such as following natural disasters, abrupt changes in energy prices as a result of regulation, or key policy communications.