 Bootstraps for Meta-Analysis with an Application to the Impact of Climate ChangeWorking Paper Series from Department of Economics, University of Sussex Business School Abstract: Bootstrap and smoothed bootstrap methods are used to estimate the uncertainty about the total impact of climate change, and to assess the performance of commonly used impact functions. Kernel regression is extended to include restrictions on the functional form. Impact functions do not describe the primary estimates of the economic impacts very well, and monotonic functions do particularly badly. The impacts of climate change do not significantly deviate from zero until 2.5-3.5°C warming. The uncertainty is large, and so is the risk premium. The ambiguity premium is small, however. The certainty equivalent impact is a negative 1.5% of income for 2.5°C, rising to 15% (50%) for 5.0°C for a rate of risk aversion of 1 (2). Keywords: impacts of climate change; kernel regression; bootstrap; risk aversion; ambiguity aversion (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:sus:susewp:6413 Access Statistics for this paper More papers in Working Paper Series from Department of Economics, University of Sussex Business School Contact information at EDIRC. |
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