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We study the economic effects of the interaction of nature loss and climate change in a model that incorporates important aspects of both processes. We capture the distinct ways in which they affect economic activity--with nature constituting a key factor of production and climate change...
Persistent link: https://www.econbiz.de/10015195007
This paper shows that unilateral decarbonization pays for itself in large economies. We estimate economic damages from global temperature shocks and combine them with a climate-economy model to construct Domestic Costs of Carbon: $226 per ton for the United States and $216 per ton for the...
Persistent link: https://www.econbiz.de/10015195010
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I distinguish between reduction offsets and removal offsets, the former generated by a reduction in the rate of greenhouse gas emissions and the latter generated by the removal of greenhouse gases from the atmosphere. I show that only removal offsets make any contribution to mitigating climate...
Persistent link: https://www.econbiz.de/10015145121
This paper measures the economic impact of climate change on US agricultural land. We replicate the previous literature's implementation of the hedonic approach and find that it produces estimates of the effect of climate change that are very sensitive to decisions about the appropriate control...
Persistent link: https://www.econbiz.de/10012468027
Fears that globalization necessarily hurts the environment are not well-founded. A survey reveals little statistical evidence, on average across countries, that openness to international trade undermines national attempts at environmental regulation through a race to the bottom' effect. If...
Persistent link: https://www.econbiz.de/10012468604
I formally relate the consequences of climate change to the time series variation in weather extensively explored by recent empirical literature. I show that reduced-form fixed effects estimators can recover the effects of climate if agents are myopic, if agents' payoff functions belong to a...
Persistent link: https://www.econbiz.de/10012480661
Climate change management is a global challenge that requires social science as much as it requires natural science. We provide a brief introduction to the physical science of climate change, written to provide essential background for economists and other social scientists. We also highlight...
Persistent link: https://www.econbiz.de/10012480841