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The Causal Effect of Environmental Catastrophe on Long-Run Economic Growth : Evidence From 6,700 Cyclones
Hsiang, Solomon M. - 2014
pre-disaster trend, and do not recover within twenty years. Both rich and poor countries exhibit this response, with … suppression of annual growth rates spread across the fifteen years following disaster, generating large and significant cumulative … continuous exposure to disaster. Linking these results to projections of future cyclone activity, we estimate that under …
Persistent link: https://www.econbiz.de/10012458315
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Mortgage Finance in the Face of Rising Climate Risk
Ouazad, Amine - 2019
after a natural disaster that caused more than a billion dollar in damages. Results suggest a substantial increase in … securitization activity in years following such a billion-dollar disaster. Such increase is larger in neighborhoods for which such a … disaster is "new news", i.e. does not have a long history of hurricanes. Conforming loans are riskier in dimensions not …
Persistent link: https://www.econbiz.de/10012480267
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How the 1906 San Francisco Earthquake Shaped Economic Activity in the American West
Ager, Philipp - 2019
This paper examines the long-run effects of the 1906 San Francisco Earthquake on the spatial distribution of economic activity in the American West. Using variation in the potential damage intensity of the earthquake, we show that more severely affected cities experienced lower population...
Persistent link: https://www.econbiz.de/10012479678
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Quantifying Climate Change Loss and Damage Consistent with a Social Cost of Greenhouse Gases
Burke, Marshall; Zahid, Mustafa; Diffenbaugh, Noah; … - National Bureau of Economic Research - 2023
Climate change is generating demonstrable harm around the world. Political and legal efforts have sought to associate climate impacts with specific emissions, including in recent international policy discussion of Loss and Damage (L&D). However, no quantitative definition of L&D exists, nor does...
Persistent link: https://www.econbiz.de/10014372415
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The Social Cost of Carbon, Risk, Distribution, Market Failures : An Alternative Approach
Stern, Nicholas H.; Stiglitz, Joseph E. - National Bureau of Economic Research - 2021
Designing policy for climate change requires analyses which integrate the interrelationship between the economy and environment, including: the immense risks and impacts on distribution across and within generations; the many failures, limitations or absences of key markets; and the limitations...
Persistent link: https://www.econbiz.de/10012482688
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The Carbon Abatement Game
Hambel, Christoph - 2018
Climate change is considered as one of the major global challenges. Although countries past and future contributions to the accumulation of greenhouse gases in the atmosphere are different, all countries are affected, but not necessarily in the same way (e.g. rising sea levels). This is the...
Persistent link: https://www.econbiz.de/10012453114
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Estimating the Social Cost of Carbon for Use in U.S. Federal Rulemakings : A Summary and Interpretation
Greenstone, Michael - 2011
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/10012461744
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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/10012459957
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Welfare Costs of Long-Run Temperature Shifts
Bansal, Ravi - 2011
This article makes a contribution towards understanding the impact of temperature fluctuations on the economy and financial markets. We present a long-run risks model with temperature related natural disasters. The model simultaneously matches observed temperature and consumption growth...
Persistent link: https://www.econbiz.de/10012461084
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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/10012461118