Correction to: Nature Climate Change https://doi.org/10.1038/s41558-019-0578-6, published online 25 September 2019.

In the version of this Letter originally published, in the y axis label of Fig. 4b the units were incorrectly given as ‘(% of GDP ºC)–1’; they should have been ‘(% of GDP per ºC)’. In addition, Supplementary Datasets 1–4 and Computer Code 1 were initially provided as separate files; these have now been combined into a single zip file. The online versions of this Letter have been amended accordingly.