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Climate Change Skepticism in the Face of Catastrophe

Mark Kagan (m.s.kagan@vu.nl)
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Mark Kagan: VU University Amsterdam

No 12-112/VIII, Tinbergen Institute Discussion Papers from Tinbergen Institute

Abstract: This paper develops a general-equilibrium model of skill-biased technological change that approximates the observed shifts in the shares of wage and non-wageincome going to the top decile of U.S. households since 1980. Under realistic assumptions, we find that all agents can benefit from the technology change, provided that the observed rise in redistributive transfers over this period is taken into account. We show that the increase in capital’s share of total income and the presence of capital-entrepreneurial skill complementarity are two keyfeatures that help support the wages of ordinary workers as the new technology diffuses.

Keywords: climate change; catastrophic damages; climate skepticism; uncertainty (search for similar items in EconPapers)
JEL-codes: Q54 Q58 (search for similar items in EconPapers)
Date: 2012-10-25, Revised 2014-09-29
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Citations: View citations in EconPapers (1)

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