What term refers to the events that follow the climax in a narrative?

The term that refers to the events that follow the climax in a narrative is Falling Action. In a story's structure, the climax is the point of greatest tension or conflict, after which the plot begins to wind down. The Falling Action encompasses the actions and events that occur as the characters deal with the aftermath of the climax, leading towards the resolution of the story. During this phase, the consequences of the climax unfold, and loose ends begin to be tied up.

By contrast, Exposition establishes the background and context, Rising Action builds tension through a series of events leading up to the climax, and Resolution wraps up the narrative, resolving remaining conflicts and revealing the outcome of the plot. Therefore, Falling Action is specifically understood as the critical transition between the climax and the resolution, making it the correct term in this context.