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. Resources & Energy 1:125–137, Cline W (2007) Global warming and agriculture: impact estimates by country. MARC, Google Scholar

How should nations balance the costs of the reductions against the damages and dangers of climate change? I n November 2006, the British government presented a comprehensive study on the economics of climate change ([1][1]), the Stern Review. 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. RIS, NBER Program(s):Economic Fluctuations and Growth, Public Economics, Environment and Energy Economics.

An analysis of the "Stern Review" finds that these recommendations depend decisively on the assumption of a near-zero social discount rate. Heal, G. The economics of climate change: a post-stern perspective. J Environ Econ Manage 36:201–208, Weitzman M (2007a) The stern review of the economics of climate change. Privacy Policy, Map/Directions: Professional Conduct Cambridge, MA 02138; Modeling the Impact of Warming in Climate Change Economics, Uncertain Outcomes and Climate Change Policy, Life After Kyoto: Alternative Approaches to Global Warming, Climate Economics: A Meta-Review and Some Suggestions, Check to see if you are eligible for Free Downloads, Archive of Lists of Affiliates' Work in Medical and Other Journals, Productivity, Innovation, and Entrepreneurship, Employer Challenges in Financing and Managing Pension Plans, New Developments in Long-Term Asset Management, Public Policies in Canada and the United States, 2019 Social Security: Panel on Economic Determinants of Fertility Behavior, 2019 NBER's Entrepreneurship Research Boot Camp, 2019 Tributes to Martin Feldstein's role at the NBER, 2019 Big Data and High-Performance Computing for Financial Economics, 2019 New Developments in Long-Term Asset Management, 2019 34th Annual Conference on Macroeconomics, Earlier Summer Institute Methods Lectures, 1050 Massachusetts Ave., Cambridge, MA 02138. Clarendon, Oxford, Sidgwick H (1890) The methods of ethics. J Environ Econ Manage 23:289–300, Article  It concludes that there is still time to avoid the worst impacts of climate change, if we act now and act internationally.
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Columbia University Press, Heal G (2005) Intertemporal welfare economics and the environment. Geoffrey Heal. N. Stern, The Economics of Climate Change: The Stern Review (Cambridge Univ. September 2007, memo, Department of Economics, University of Cambridge, Dasgupta P, Heal G (1979) Economic theory and exhaustible resources. 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.

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Working Paper, Department of Agricultural and Resource Economics, U.C.

Sitemap The Stern Review has catalyzed a fundamental rethinking of the economic case for action on climate change. Press, Cambridge, 2006). J Environ Econ Manage 44:329–345, Ghiradato P, Marinacci M (2001) Risk, ambiguity and the separation of utility and beliefs. Working Paper, Laboratoire d’Économetrie de l’École Polytechnique, Intergovernmental Panel on Climate Change (2007) Contribution of Working Group I to the Fourth Assessment Report of the Intergovernmental Panel on Climate Change, Climate Change 2007: The Physical Science Basis. BibTeX, Document Object Identifier (DOI): 10.3386/w12741. The "Stern Review" on the Economics of Climate Change William D. Nordhaus. Koehler, J., Grubb, M.J., Popp, D., and Edenhofer, O. 45(3), pages 686-702, September. A sound understanding of the economics of climate change is needed in order to underpin an effective global response to this challenge. https://en.wikipedia.org/wiki/Nicholas_Stern,_Baron_Stern_of_Brentford Discussion Paper, Resources for the Future, July 2007, RFF DP 07-37. 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. © 2020 Springer Nature Switzerland AG. J Econ Lit 45(3):686–702, Ramsey F (1928) A mathematical theory of saving.

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Econ J 38:543–559, Roughgarden T, Schneider S (1999) Climate change policy: quantifying uncertainties for damages and optimal carbon taxes. 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.

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