韩国央行：气候变化对韩国经济的影响：基于函数数据的聚合VAR（英文版）

This study investigates the economic effects of climate change on small open economies within a broader global context, using South Korea as a case study. We apply advanced econometric techniques to analyze high-dimensional functional data and employ an Instrumental Factor Model to construct a Global Climate Index that captures global climate dynamics. Additionally, we develop localized seasonal weather indices for South Korea. An aggregated VAR framework is employed to estimate the dynamic