Monetary valuation of climate-change impacts, and the cost-benefit analysis of climate-change policy into which it feeds, has long been controversial. Writers in ecological economics have done much to illuminate its difficulties. For the purposes of this paper, the key difficulties of the...

Several recent studies have reported the costs of adapting to climate change, including for developing countries. They have similar-sized estimates and have been influential in United Nations (UN) negotiations aimed at tackling climate change. Our reassessment of one of these studies, which...

The US government must use an official estimate of the “social cost of carbon” (SCC) to estimate carbon emission reduction benefits for proposed environmental standards expected to reduce CO<Subscript>2</Subscript> emissions. The SCC is a monetized value of the marginal benefit of reducing one metric ton of CO<Subscript>2</Subscript>....</subscript></subscript>

This paper offers some thoughts on the value added of new economic estimates of climate change damages. We begin with a warning to beware of analyses that are so narrow that they miss a good deal of the important economic ramifications of the full suite of manifestations of climate change. Our...

A favoured method of assimilating information from state-of-the-art climate models into integrated assessment models of climate impacts is to use the transient climate response (TCR) of the climate models as an input, sometimes accompanied by a pattern matching approach to provide spatial...

PAGE09 is an updated version of the PAGE2002 integrated assessment model (Hope <CitationRef CitationID="CR14">2011a</CitationRef>). The default PAGE09 model gives a mean estimate of the social cost of CO<Subscript>2</Subscript> (SCCO<Subscript>2</Subscript>) of $106 per tonne of CO<Subscript>2</Subscript>, compared to $81 from the PAGE2002 model used in the Stern review (Stern <CitationRef CitationID="CR24">2007</CitationRef>). The increase is the net...</citationref></subscript></subscript></subscript></citationref>