Economic Impacts of Climate Change in the United States: Integrating and Harmonizing Evidence from Recent Studies

Elizabeth Kopits, Daniel Kraynak, Bryan Parthum, Lisa Rennels, David Smith, Elizabeth Spink, Joseph Perla and Nshan Burns

Papers from arXiv.org

Abstract: This paper synthesizes evidence on climate change impacts specific to U.S. populations. We develop an apples-to-apples comparison of econometric studies that empirically estimate the relationship between climate change and gross domestic product (GDP). We demonstrate that with harmonized probabilistic socioeconomic and climate inputs these papers project a narrower and lower range of 2100 GDP losses than what is reported across the published studies, yet the implied U.S.-specific social cost of greenhouse gases (SC-GHG) is still greater than the market-based damage estimates in current enumerative models. We then integrate evidence on nonmarket damages with the GDP impacts and recover a jointly-estimated SC-GHG. Our findings highlight the need for more research on both market and nonmarket climate impacts, including interaction and international spillover impacts. Further investigation of how results of macroeconomic and enumerative approaches can be integrated would enhance the usefulness of both strands of literature to climate policy analysis going forward.

Date: 2025-08
New Economics Papers: this item is included in nep-agr and nep-env
References: Add references at CitEc
Citations:

Downloads: (external link)
http://arxiv.org/pdf/2509.00212 Latest version (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:arx:papers:2509.00212

Access Statistics for this paper

More papers in Papers from arXiv.org
Bibliographic data for series maintained by arXiv administrators ().