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Modified Ramsey discounting for climate change
Tol, Richard S. J. - 2013
The Ramsey rule for the consumption rate of discount assumes a transfer of money of a (representative) agent at one point in time to the same agent at another point in time. Climate policy (implicitly) transfers money not just over time but also between agents. I propose three alternative...
Persistent link: https://www.econbiz.de/10011384321
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The economic impact of weather and climate
Tol, Richard S. J. - 2021
I propose a new conceptual framework to disentangle the impacts of weather and climate on economic activity and growth: A stochastic frontier model with climate in the production frontier and weather shocks as a source of inefficiency. I test it on a sample of 160 countries over the period...
Persistent link: https://www.econbiz.de/10012486667
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A meta-analysis of the total economic impact of climate change
Tol, Richard S. J. - 2022
Earlier meta-analyses of the economic impact of climate change are updated with more data, with three new results: (1) The central estimate of the economic impact of global warming is always negative. (2) The confidence interval about the estimates is much wider. (3) Elicitation methods are most...
Persistent link: https://www.econbiz.de/10013362448
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Regional and sectoral estimates of the social cost of carbon: An application of FUND
Anthoff, David; Rose, Steven; Tol, Richard S. J.; … - Institut für Weltwirtschaft (IfW) - 2011
The social cost of carbon is an estimate of the benefit of reducing CO2 emissions by one ton today. As such it is a key input into cost-benefit analysis of climate policy and regulation. We provide a set of new estimates of the social cost of carbon from the integrated assessment model FUND 3.5...
Persistent link: https://www.econbiz.de/10009223283
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The marginal damage costs of different greenhouse gases: An application of FUND
Waldhoff, Stephanie; Anthoff, David; Rose, Steven; Tol, … - Institut für Weltwirtschaft (IfW) - 2011
We use FUND 3.5 to estimate the social cost of carbon dioxide, methane, nitrous oxide, and sulphur hexafluoride emissions. We show the results of a range of sensitivity analyses, focusing on the impact of carbon dioxide fertilization. Ignored in previous studies of the social cost of greenhouse...
Persistent link: https://www.econbiz.de/10009321670
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The marginal damage costs of different greenhouse gases: An application of FUND
Waldhoff, Stephanie; Anthoff, David; Rose, Steven K.; … - In: Economics - The Open-Access, Open-Assessment E-Journal 8 (2014), pp. 1-33
The authors use FUND 3.9 to estimate the social cost of four greenhouse gases-carbon dioxide, methane, nitrous oxide, and sulphur hexafluoride-with sensitivity tests for carbon dioxide fertilization, terrestrial feedbacks, climate sensitivity, discounting, equity weighting, and socioeconomic and...
Persistent link: https://www.econbiz.de/10010954786
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Modified Ramsey Discounting for Climate Change
Tol, Richard S. J. - 2015
The Ramsey rule for the consumption rate of discount assumes a transfer of money of a (representative) agent at one point in time to the same agent at another point in time. Climate policy (implicitly) transfers money not just over time but also between agents. I propose three alternative...
Persistent link: https://www.econbiz.de/10011388253
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Climate change impacts on global agriculture
Calzadilla, Alvaro; Rehdanz, Katrin; Betts, Richard; … - 2010
Based on predicted changes in the magnitude and distribution of global precipitation, temperature and river flow under the IPCC SRES A1B and A2 scenarios, this study assesses the potential impacts of climate change and CO2 fertilization on global agriculture. The analysis uses the new version of...
Persistent link: https://www.econbiz.de/10010267268
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International cooperation on climate change adaptation from an economic perspective
de Bruin, Kelly C.; Dellink, Rob B.; Tol, Richard S. J. - 2010
RICE model. We show that making adaptation explicit will not affect the optimal mitigation path when adaptation is set at … its optimal level. Sub-optimal adaptation will, however, change the optimal mitigation path. Furthermore this paper … adaptation and (ii) the optimal mitigation path. Adaptation transfers will fully crowd out domestic adaptation in a first best …
Persistent link: https://www.econbiz.de/10010272441
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The Social Cost of Carbon: Trends, Outliers and Catastrophes
Tol, Richard S. J. - 2007
211 estimates of the social cost of carbon are included in a meta-analysis. The results confirm that a lower discount rate implies a higher estimate; and that higher estimates are found in the gray literature. It is also found that there is a downward trend in the economic impact estimates of the...
Persistent link: https://www.econbiz.de/10010295252