On the Uncertainty About the Total Economic Impact of Climate Change
Richard Tol ()
Environmental & Resource Economics, 2012, vol. 53, issue 1, pages 97-116
This paper uses a vote-counting procedure to estimate the probability density function of the total economic impact as a parabolic function of global warming. There is a wide range of uncertainty about the impact of climate change up to 3°C, and the information becomes progressively more diffuse beyond that. Warming greater than 3°C most likely has net negative impacts, and warming greater than 7°C may lead to a total welfare loss. The expected value of the social cost of carbon is about $29/tC in 2015 and rises at roughly 2% per year. Copyright The Author(s) 2012
Keywords: Climate change; Economic impact; Meta-analysis; Social cost of carbon; Q54 (search for similar items in EconPapers)
References: View references in EconPapers View complete reference list from CitEc
Citations View citations in EconPapers (21) Track citations by RSS feed
Downloads: (external link)
Access to full text is restricted to subscribers.
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: http://EconPapers.repec.org/RePEc:kap:enreec:v:53:y:2012:i:1:p:97-116
Access Statistics for this article
Environmental & Resource Economics is currently edited by I.J. Bateman and R.K. Turner
More articles in Environmental & Resource Economics from European Association of Environmental and Resource Economists
Series data maintained by Sonal Shukla ().