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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