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Estimates of the Economic Effects of Sea Level Rise

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Author Info
Roy Darwin
Richard Tol

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Abstract

Regional estimates of direct cost (DC) are commonly used to measure the economic damages of sea level rise. Such estimates suffer from three limitations:(i) values of threatened endowments are not well known, (ii) loss of endowments does not affect consumer prices, and (iii) international trade is disregarded. Results in this paper indicate that these limitations can significantly affect economic assessments of sea level rise. Current uncertainty regarding endowment values (as reflected in two alternative data sets), for example, leads to a 17 percent difference in coastal protection, a 36 percent difference in the amount of land protected, and a 36 percent difference in DC globally. Also, global losses in equivalent variation (EV), a welfare measure that accounts for price changes, are 13 percent higher than DC estimates. Regional EV losses may be up to 10 percent lower than regional DC, however, because international trade tends to redistribute losses from regions with relatively high damages to regions with relatively low damages. Copyright Kluwer Academic Publishers 2001

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File URL: http://hdl.handle.net/10.1023/A:1011136417375
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Publisher Info
Article provided by European Association of Environmental and Resource Economists in its journal Environmental and Resource Economics.

Volume (Year): 19 (2001)
Issue (Month): 2 (June)
Pages: 113-129
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Handle: RePEc:kap:enreec:v:19:y:2001:i:2:p:113-129

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Keywords: direct cost economic impacts equivalent variation sea level rise

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

  1. Darwin, Roy & Tsigas, Marinos & Lewandrowski, Jan & Raneses, Anton, 1996. "Land use and cover in ecological economics," Ecological Economics, Elsevier, vol. 17(3), pages 157-181, June. [Downloadable!] (restricted)
  2. Yohe Gary & Neumann James & Ameden Holly, 1995. "Assessing the Economic Cost of Greenhouse-Induced Sea Level Rise: Methods and Application in Support of a National Survey," Journal of Environmental Economics and Management, Elsevier, vol. 29(3), pages S78-S97, November. [Downloadable!] (restricted)
  3. Nordhaus, William D, 1991. "To Slow or Not to Slow: The Economics of the Greenhouse Effect," Economic Journal, Royal Economic Society, vol. 101(407), pages 920-37, July. [Downloadable!] (restricted)
  4. Tol, Richard S. J., 1996. "The damage costs of climate change towards a dynamic representation," Ecological Economics, Elsevier, vol. 19(1), pages 67-90, October. [Downloadable!] (restricted)
  5. Harrison, W Jill & Pearson, K R, 1996. "Computing Solutions for Large General Equilibrium Models Using GEMPACK," Computational Economics, Springer, vol. 9(2), pages 83-127, May.
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  6. Richard Tol, 1999. "Spatial and Temporal Efficiency in Climate Policy: Applications of FUND," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 14(1), pages 33-49, July. [Downloadable!] (restricted)
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Roberto Roson & Richard s.J. Tol, 2003. "An Integrated Assessment Model Of Economy-Energy-Climate – The Model Wiagem: A Comment," Working Papers FNU-26, Research unit Sustainability and Global Change, Hamburg University, revised May 2003. [Downloadable!]
  2. Samuel Fankhauser & Richard S.J. Tol, 2001. "On Climate Change And Economic Growth," Working Papers FNU-10, Research unit Sustainability and Global Change, Hamburg University, revised Jun 2002. [Downloadable!]
    Other versions:
  3. Francesco Bosello & Roberto Roson & Richard S.J. Tol, 2004. "Economy-Wide Estimates Of The Implications Of Climate Change: Sea Level Rise," Working Papers FNU-38, Research unit Sustainability and Global Change, Hamburg University, revised Jan 2004. [Downloadable!]
    Other versions:
  4. Onno J. Kuik & Barbara Bucher & Michela Catenacci & Etem Karakaya & Richard S.J. Tol, 2006. "Methodological aspects of recent climate change damage cost studies," Working Papers FNU-122, Research unit Sustainability and Global Change, Hamburg University, revised Dec 2006. [Downloadable!]
  5. Maren A. Lau, 2006. "Adaptation to Sea-level Rise in the People’s Republic of China – Assessing the Institutional Dimension of Alternative Organisational Frameworks," Working Papers FNU-94, Research unit Sustainability and Global Change, Hamburg University, revised Jan 2006. [Downloadable!]
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