Modeling the Impact of Warming in Climate Change Economics
Working Papers from Massachusetts Institute of Technology, Center for Energy and Environmental Policy Research
Any economic analysis of climate change policy requires some model that describes the impact of warming on future GDP and consumption. Most integrated assessment models (IAMs) relate temperature to the level of real GDP and consumption, but there are theoretical and empirical reasons to expect temperature to affect the growth rate rather than level of GDP. Does this distinction matter in terms of implications for policy? And how does the answer depend on the nature and extent of uncertainty over future temperature change and its impact? I address these questions by estimating the fraction of consumption society would be willing to sacrifice to limit future increases in temperature, using probability distributions for temperature and impact inferred from studies assembled by the IPCC, and comparing estimates based on a direct versus growth rate impact of temperature on GDP.
New Economics Papers: this item is included in nep-ene and nep-env
References: Add references at CitEc
Citations: Track citations by RSS feed
Downloads: (external link)
Our link check indicates that this URL is bad, the error code is: 500 Can't connect to tisiphone.mit.edu:80 (No such host is known. )
Chapter: Modeling the Impact of Warming in Climate Change Economics (2011)
Working Paper: Modeling the Impact of Warming in Climate Change Economics (2010)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:mee:wpaper:1001
Access Statistics for this paper
More papers in Working Papers from Massachusetts Institute of Technology, Center for Energy and Environmental Policy Research Contact information at EDIRC.
Bibliographic data for series maintained by Sharmila Ganguly ().