Opportunities for advances in climate change economics

M. Burke, M. Craxton, Charles Kolstad, C. Onda, H. Allcott, E. Baker, L. Barrage, Richard Carson, Kenneth Gillingham, J. Graff-Zivin, Michael Greenstone, Stephane Hallegatte, Michael Hanemann (), Geoffrey Heal, S. Hsiang, Benjamin Jones, David Kelly, R. Kopp, M. Kotchen, Robert Mendelsohn, K. Meng, Gilbert Metcalf, Juan Moreno-Cruz, Robert Pindyck, S. Rose, Ivan Rudik, J. Stock and Richard Tol
Authors registered in the RePEc Author Service: Raymond John Kopp, Robert E. Kopp () and Joshua Graff Zivin

ISU General Staff Papers from Iowa State University, Department of Economics

Abstract: There have been dramatic advances in understanding the physical science of climate change, facilitated by substantial and reliable research support. The social value of these advances depends on understanding their implications for society, an arena where research support has been more modest and research progress slower. Some advances have been made in understanding and formalizing climate-economy linkages, but knowledge gaps remain [e.g., as discussed in (1, 2)]. We outline three areas where we believe research progress on climate economics is both sorely needed, in light of policy relevance, and possible within the next few years given appropriate funding: (i) refining the social cost of carbon (SCC), (ii) improving understanding of the consequences of particular policies, and (iii) better understanding of the economic impacts and policy choices in developing economies.

Date: 2016-04-01
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