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J Econ Lit 45(3):686–702, Ramsey F (1928) A mathematical theory of saving. Measuring capital in the 21st century.
Econometrica 21(2):233–268. McKinsey & Company. J Environ Econ Manage 36:201–208, Weitzman M (2007a) The stern review of the economics of climate change. PubMed Google Scholar. It concludes that there is still time to avoid the worst impacts of climate change, if we act now and act internationally. In particular, we need to understand better how climate change affects natural capital—the natural environment and the ecosystems comprising it—and how this in turn affects human welfare. I n November 2006, the British government presented a comprehensive study on the economics of climate change ([1][1]), the Stern Review. It painted a dark picture for the globe, “[I]f we don't act, the overall costs and risks of climate change will be equivalent to losing at least 5% of global GDP [gross domestic product] each year, now and forever. J Environ Econ Manage 23:289–300, Article Resourc Energy Econ 15:27–50, Nordhaus W (2007) The stern review of the economics of climate change. Energy Policy 27:415–429, Schlenker W, Fisher AC, Hanemann WM (2006) The impact of global warming on U.S. agriculture: an econometric analysis of optimal growing conditions. We are in a position to give some conditions that are sufficient to provide a case for strong action on climate change, but we need more work before we have a fully satisfactory account of the relevant economics. Working Paper, Department of Agricultural and Resource Economics, U.C.
1050 Massachusetts Ave., Cambridge, MA 02138. How should nations balance the costs of the reductions against the damages and dangers of climate change? Google Scholar A lot. Q J Econ 89(3):358–370, Fisher A, Narain U (2002) Global warming, endogenous risk and irreversibility. The Economists’ Voice, Berkeley Press, January 2006, Barrett S (1994) Economic growth and environmental preservation. Professional Conduct © 2020 Springer Nature Switzerland AG.
volume 96, pages275–297(2009)Cite this article. Machine-readable bibliographic record - A …
Working Groups Working paper. [N H Stern; Great Britain. ;] -- "There is now clear scientific evidence that emissions from economic activity, particularly the burning of fossil fuels for energy, are causing changes to the Earth's climate. 45(3), pages 686-702, September.
Get this from a library! We have explored the model space and the parameter space much more thoroughly. The World Bank, Washington, Columbia Business School, Columbia University, 616 Uris Hall, 3022 Broadway, New York, NY, 10027-6902, USA, You can also search for this author in 12741 Issued in December 2006 NBER Program(s):Economic Fluctuations and Growth, Public Economics, Environment and Energy Economics How much and how fast should the globe reduce greenhouse-gas emissions? Climatic Change 96, 275–297 (2009). Environ Resour Econ 22:3–39, Henry C (2007) Somewhat different ways, but the same destination. MARC, Links to other Resources September 2007, memo, Department of Economics, University of Cambridge, Dasgupta P, Heal G (1979) Economic theory and exhaustible resources.
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Available at http://www.rff.org/rff/Documents/RFF-DP-07-37.pdf, Weitzman M (1998) Why the far distant future should be discounted at the lowest rate. Rev Econ Stud 52:153–170, Malinvaud E (1953) Capital accumulation and the efficient allocation of resources. - 104.238.110.200. Nordhaus W (1993) Rolling the DICE: an optimal transition for controlling the emission of greenhouse gases. Clarendon, Oxford, Sidgwick H (1890) The methods of ethics. BibTeX, Document Object Identifier (DOI): 10.3386/w12741.
Columbia University Press, Heal G (2005) Intertemporal welfare economics and the environment.
Resources & Energy 1:125–137, Cline W (2007) Global warming and agriculture: impact estimates by country. Handbook of Environmental Economics, Volume 3.Edited by K-G Mäler and J.R. Vincent, Elsevier, Chapter 21, 1105–1145, Heal G, Kriström B (2002) Uncertainty and climate change.
The Stern Review has catalyzed a fundamental rethinking of the economic case for action on climate change.
An analysis of the "Stern Review" finds that these recommendations depend decisively on the assumption of a near-zero social discount rate.
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Treasury. J. Macmillan, London, Heal G (1998) Valuing the future: economic theory and sustainability. Presented at the Workshop on the Economic Analysis of Global Warming at the New School on October 12 2007, Gerlagh R, van der Zwaan R (2002) Long-term substitutability between the environment and man-made goods. NBER Working Paper No. J Econ Lit 45(2):703–724, Weitzman M (2007b) Structural uncertainty and the value of statistical life in the economics of catastrophic climate change.
The economics of climate change : the Stern review.
On some controversial points in the Stern report. Privacy Policy, Map/Directions: Discussion Paper, Resources for the Future, July 2007, RFF DP 07-37.
The Review's unambiguous conclusions about the need for extreme immediate action will not survive the substitution of discounting assumptions that are consistent with today's market place. https://doi.org/10.1007/s10584-009-9641-z, DOI: https://doi.org/10.1007/s10584-009-9641-z, Over 10 million scientific documents at your fingertips, Not logged in RIS,
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A sound understanding of the economics of climate change is needed in order to underpin an effective global response to this challenge. Berkeley, Foley D (2007) The economic fundamentals of global warming, memo, The New School, October 2007.
NBER Program(s):Economic Fluctuations and Growth, Public Economics, Environment and Energy Economics. The Stern Review has catalyzed a fundamental rethinking of the economic case for action on climate change. This review, commissioned by the Chancellor in July 2005, was carried out by Sir Nicholas Stern, Head of the UK Government Economic Service and former World Bank Chief Economist. We need urgent, sharp, and immediate reductions in greenhouse-gas emissions. OpenUrl ↵ In the review's modeling, the g in the discount rate is specific to the growth path in each of the thousands of model runs in the Monte Carlo analysis of aggregated-impact cost estimates. La Revue Economique, Guiteras R (2007) The impact of climate change on Indian Agriculture.
Taxes to be calculated in checkout. Press, Cambridge, 2006). Publisher : Cambridge University Press (4 Jan. 2007) Language: : English; Best Sellers Rank: 634,354 in Books (See Top 100 in Books) 496 in Environmental Engineering; 506 in Global Warming & Ecology; 510 in Popular Science Weather; Customer reviews: 4.4 out of 5 stars 14 ratings.
Working Paper, July 2007, World Bank (2006) Where is the Wealth of Nations?
Koehler, J., Grubb, M.J., Popp, D., and Edenhofer, O. Sitemap Geoffrey Heal. Heal, G. The economics of climate change: a post-stern perspective. Rev Econ Stat 88(1):113–125, Sen A (1973) On economic inequality.
There is now clear scientific evidence that emissions from economic activity, particularly the burning of fossil fuels for energy, are causing changes to the Earth's climate. N. Stern, The Economics of Climate Change: The Stern Review (Cambridge Univ.
Climatic Change ↵ F. P. Ramsey, Econ. H.M. Treasury, UK, Sterner T, Persson M (2007) An even sterner review: introducing relative prices into the discounting debate. (2006), ‘The Transition to Endogenous Technical Change in Climate-Economy Models: A Technical Overview to the Innovation Modeling Comparison Project’, Energy Journal (Endogenous Technological Change and the Economics of the Atmospheric Stabilization Special Issue), 17 – 55.
Immediate online access to all issues from 2019. We are in a position to give some conditions that are sufficient to provide a case for strong action on climate change, but we need more work before we have a fully satisfactory account of the relevant economics. Learn more about Institutional subscriptions, Barbier E, Heal G (2006) Valuing ecosystem services.
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