This paper warns against the risk of underestimating the costs -and the uncertainty about the costs- of achieving stringent stabilization targets. We argue that a straightforward review of integrated assessment models results produces biased estimates for the more ambitious climate objectives...

We use the integrated assessment model FUND to compute the income elasticities of climate change impacts for different world regions over time. We find limited support for Schelling's Conjecture that development might be the best defense against climate change impacts, and for the idea that the...