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The Causal Effect of Environmental Catastrophe on Long-Run Economic Growth : Evidence from 6,700 Cyclones
Hsiang, Solomon - 2014
Does the environment have a causal effect on economic development? Using meteorological data, we reconstruct every country's exposure to the universe of tropical cyclones during 1950-2008. We exploit random within-country year-to-year variation in cyclone strikes to identify the causal effect of...
Persistent link: https://www.econbiz.de/10013049691
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The Costs of (Sub)Sovereign Default Risk : Evidence from Puerto Rico
Chari, Anusha - 2017
Puerto Rico's unique characteristics as a U.S. territory allow us to examine the channels through which (sub)sovereign default risk can have real effects on the macroeconomy. Post-2012, during the period of increased default probabilities, the cointegrating relationship between real activity in...
Persistent link: https://www.econbiz.de/10012941599
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Welfare Costs of Long-Run Temperature Shifts
Bansal, Ravi - 2011
consumption, and the total dollar costs of completely insuring against temperature variation are 2.46% of world GDP. If we allow … world GDP. We show that the same features, long-run risks and recursive-preferences, that account for the risk-free rate and …
Persistent link: https://www.econbiz.de/10013118836
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Estimates of the Social Cost of Carbon : Background and Results from the Rice-2011 Model
Nordhaus, William D. - 2011
A new and important concept in global warming economics and policy is the social cost of carbon or SCC. This concept represents the economic cost caused by an additional ton of carbon-dioxide emissions or its equivalent. The present study describes the development of the concept as well as its...
Persistent link: https://www.econbiz.de/10013119046
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The Social Cost of Stochastic and Irreversible Climate Change
Cai, Yongyang - 2013
There is great uncertainty about the impact of anthropogenic carbon on future economic wellbeing. We use DSICE, a DSGE extension of the DICE2007 model of William Nordhaus, which incorporates beliefs about the uncertain economic impact of possible climate tipping events and uses empirically...
Persistent link: https://www.econbiz.de/10013088403
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Estimating the Social Cost of Carbon for Use in U.S. Federal Rulemakings : A Summary and Interpretation
Greenstone, Michael - 2014
The United States Government recently concluded a year-long process to develop a range of values representing the monetized damages associated with an incremental increase in carbon dioxide (CO2) emissions, commonly referred to as the social cost of carbon (SCC). These values are currently used...
Persistent link: https://www.econbiz.de/10013068337
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The Economic Cost of Global Fuel Subsidies
Davis, Lucas W. - 2013
the latest available data from the World Bank, finding that road-sector subsidies for gasoline and diesel totaled $110 …
Persistent link: https://www.econbiz.de/10013071789
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On a World Climate Assembly and the Social Cost of Carbon
Weitzman, Martin - 2016
This paper postulates the conceptually useful allegory of a futuristic “World Climate Assembly” (WCA) that votes for a … emitter's single-peaked most-preferred world price of carbon emissions to the world “Social Cost of Carbon” (SCC). The second … and third propositions relate the WCA-voted world price of carbon to the world SCC. I argue that the WCA-voted price and …
Persistent link: https://www.econbiz.de/10012979375
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The Social Cost of Carbon Revisited
Pindyck, Robert S. - 2016
An estimate of the social cost of carbon (SCC) is key to climate policy. But how should we estimate the SCC? A common approach is to use an integrated assessment model (IAM) to simulate time paths for the atmospheric CO2 concentration, its impact on global mean temperature, and the resulting...
Persistent link: https://www.econbiz.de/10012979765
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Has Creative Destruction Become More Destructive?
Komlos, John - 2014
Schumpeter's concept of creative destruction as the engine of capitalist development is well-known. However, that the destructive part of creative destruction is a social cost and therefore biases our estimate of the impact of the innovation on NNP and on welfare is hardly acknowledged, with the...
Persistent link: https://www.econbiz.de/10013048999