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Economic damages caused by extreme natural disasters have increased significantly over the last 50 years.


Floods, storms, hurricanes, heat waves, droughts, wildfires and landslides are among the natural disasters associated with climate change whose frequency and intensity has increased in the last decades. In the last 50 years the economic impact of extreme events has grown by many folds, driven by substantial increases in the damage caused by each of these disasters. The increase is substantial even when controlling for changes in income and population.