A Stern Reply to the Reply to the Review of the Stern Review
AbstractTol and Yohe point out that, in their reply [Vol. 8, No. 1] to Tol and Yoheâ€™s review [Vol. 7, No. 4], the Stern team demonstrates the fragility of the numerical findings of the costâ€“benefit analysis in the Stern Review. At the same time, the Stern team puts less weight on costâ€“benefit analysis as a guide to policy making on climate change. Tol and Yohe show that the Stern Review allows several, mutually contradictory interpretations of the model that underlies the cost estimates; and argue that each interpretation implies that Sternâ€™s cost estimates have a severe downward bias.
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Bibliographic InfoArticle provided by World Economics, Economic & Financial Publishing, 1 Ivory Square, Plantation Wharf, London, United Kingdom, SW11 3UE in its journal World Economics Journal.
Volume (Year): 8 (2007)
Issue (Month): 2 (April)
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- David Anthoff & Richard S. J. Tol, 2008.
"The Impact of Climate Change on the Balanced-Growth-Equivalent: An Application of FUND,"
WP228, Economic and Social Research Institute (ESRI).
- David Anthoff & Richard Tol, 2009. "The Impact of Climate Change on the Balanced Growth Equivalent: An Application of FUND," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 43(3), pages 351-367, July.
- Richard S.J. Tol, 2007.
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FNU-144, Research unit Sustainability and Global Change, Hamburg University, revised Aug 2007.
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- Gerst, Michael D. & Howarth, Richard B. & Borsuk, Mark E., 2010. "Accounting for the risk of extreme outcomes in an integrated assessment of climate change," Energy Policy, Elsevier, vol. 38(8), pages 4540-4548, August.
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