Advanced Search
MyIDEAS: Login to save this paper or follow this series

The Economics of Global Climate Change: A Historical Literature Review

Contents:

Author Info

  • David I. Stern
  • Frank Jotzo
  • Leo Dobes

Abstract

We review the historical literature on the economics of climate change with a focus on the evolution of the literature from some of the early classic papers to the latest contributions. We divide the paper into three main sections: trends in greenhouse gas emissions, mitigation, and adaptation.

Download Info

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
File URL: http://ccep.anu.edu.au/data/2013/pdf/wpaper/CCEP1307.pdf
Download Restriction: no

Bibliographic Info

Paper provided by Centre for Climate Economics & Policy, Crawford School of Public Policy, The Australian National University in its series CCEP Working Papers with number 1307.

as in new window
Length:
Date of creation: Nov 2013
Date of revision:
Handle: RePEc:een:ccepwp:1307

Contact details of provider:
Postal: Crawford Building, Lennox Crossing, Building #132, Canberra ACT 0200
Phone: +61 2 6125 4705
Fax: +61 2 6125 5448
Email:
Web page: http://ccep.anu.edu.au/
More information through EDIRC

Related research

Keywords: Economics; climate change; emissions trends; mitigation; adaptation;

Find related papers by JEL classification:

This paper has been announced in the following NEP Reports:

References

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.:
as in new window
  1. Richard T. Carson, 2010. "The Environmental Kuznets Curve: Seeking Empirical Regularity and Theoretical Structure," Review of Environmental Economics and Policy, Association of Environmental and Resource Economists, vol. 4(1), pages 3-23, Winter.
  2. Britt Groosman & Nicholas Z. Muller & Erin O’Neill, 2009. "The Ancillary Benefits from Climate Policy in the United States," Middlebury College Working Paper Series 0920, Middlebury College, Department of Economics.
  3. Francesco Bosello & Carlo Carraro & Enrica De Cian, 2010. "Climate Policy And The Optimal Balance Between Mitigation, Adaptation And Unavoided Damage," Climate Change Economics (CCE), World Scientific Publishing Co. Pte. Ltd., vol. 1(02), pages 71-92.
  4. Kunreuther, Howard, 1996. "Mitigating Disaster Losses through Insurance," Journal of Risk and Uncertainty, Springer, vol. 12(2-3), pages 171-87, May.
  5. Grubler, Arnulf & Nakicenovic, Nebojsa & Victor, David G., 1999. "Dynamics of energy technologies and global change," Energy Policy, Elsevier, vol. 27(5), pages 247-280, May.
  6. Lawrence H. Goulder & Roberton C. Williams, 2012. "The Choice Of Discount Rate For Climate Change Policy Evaluation," Climate Change Economics (CCE), World Scientific Publishing Co. Pte. Ltd., vol. 3(04), pages 1250024-1-1.
  7. Celine Herweijer & Nicola Ranger & Robert E T Ward, 2009. "Adaptation to Climate Change: Threats and Opportunities for the Insurance Industry," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan, vol. 34(3), pages 360-380, July.
  8. Leo Dobes, 2010. "Notes on Applying Real Options to Climate Change Adaptation Measures, with examples from Vietnam," Environmental Economics Research Hub Research Reports 1075, Environmental Economics Research Hub, Crawford School of Public Policy, The Australian National University.
  9. Vollebergh, Herman R.J. & Melenberg, Bertrand & Dijkgraaf, Elbert, 2009. "Identifying reduced-form relations with panel data: The case of pollution and income," Journal of Environmental Economics and Management, Elsevier, vol. 58(1), pages 27-42, July.
  10. Kander, Astrid & Lindmark, Magnus, 2006. "Foreign trade and declining pollution in Sweden: a decomposition analysis of long-term structural and technological effects," Energy Policy, Elsevier, vol. 34(13), pages 1590-1599, September.
  11. Detlef Vuuren & Jae Edmonds & Mikiko Kainuma & Keywan Riahi & Allison Thomson & Kathy Hibbard & George Hurtt & Tom Kram & Volker Krey & Jean-Francois Lamarque & Toshihiko Masui & Malte Meinshausen & N, 2011. "The representative concentration pathways: an overview," Climatic Change, Springer, vol. 109(1), pages 5-31, November.
  12. Andreas Lange & Andreas Löschel & Carsten Vogt & Andreas Ziegler, 2009. "On the Self-interested Use of Equity in International Climate Negotiations," NBER Working Papers 14930, National Bureau of Economic Research, Inc.
  13. Heil, Mark T. & Selden, Thomas M., 2001. "Carbon emissions and economic development: future trajectories based on historical experience," Environment and Development Economics, Cambridge University Press, vol. 6(01), pages 63-83, February.
  14. Paul Raschky & Hannelore Weck-Hannemann, 2007. "Charity hazard - A real hazard to natural disaster insurance," Working Papers 2007-04, Faculty of Economics and Statistics, University of Innsbruck.
  15. Brock,W.A. & Taylor,M.S., 2004. "The Green Solow model," Working papers 16, Wisconsin Madison - Social Systems.
  16. Richard Schmalensee & Thomas M. Stoker & Ruth A. Judson, 1998. "World Carbon Dioxide Emissions: 1950-2050," The Review of Economics and Statistics, MIT Press, vol. 80(1), pages 15-27, February.
  17. Anda, Jon & Golub, Alexander & Strukova, Elena, 2009. "Economics of climate change under uncertainty: Benefits of flexibility," Energy Policy, Elsevier, vol. 37(4), pages 1345-1355, April.
  18. Roxana Julia & Faye Duchin, 2005. "World Trade as the Adjustment Mechanism of Agriculture to Climate Change," Rensselaer Working Papers in Economics 0507, Rensselaer Polytechnic Institute, Department of Economics.
  19. Holtz-Eakin, Douglas & Selden, Thomas M., 1995. "Stoking the fires? CO2 emissions and economic growth," Journal of Public Economics, Elsevier, vol. 57(1), pages 85-101, May.
  20. Christian Gollier, 2012. "Pricing the Planet's Future: The Economics of Discounting in an Uncertain World," Economics Books, Princeton University Press, edition 1, volume 1, number 9894.
  21. Joseph Aldy, 2006. "Per Capita Carbon Dioxide Emissions: Convergence or Divergence?," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 33(4), pages 533-555, 04.
  22. Barrett, Scott, 1990. "The Problem of Global Environmental Protection," Oxford Review of Economic Policy, Oxford University Press, vol. 6(1), pages 68-79, Spring.
  23. Richard Black & Dominic Kniveton & Kerstin Schmidt-Verkerk, 2011. "Migration and climate change: towards an integrated assessment of sensitivity," Environment and Planning A, Pion Ltd, London, vol. 43(2), pages 431-450, February.
  24. Richard Tol, 2002. "Estimates of the Damage Costs of Climate Change. Part 1: Benchmark Estimates," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 21(1), pages 47-73, January.
  25. David I. Stern, 2005. "Reversal in the Trend of Global Anthropogenic Sulfur Emissions," Rensselaer Working Papers in Economics 0504, Rensselaer Polytechnic Institute, Department of Economics.
  26. Henriques, Sofia Teives & Kander, Astrid, 2010. "The modest environmental relief resulting from the transition to a service economy," Ecological Economics, Elsevier, vol. 70(2), pages 271-282, December.
  27. Jaffe, Adam B. & Newell, Richard G. & Stavins, Robert N., 2005. "A tale of two market failures: Technology and environmental policy," Ecological Economics, Elsevier, vol. 54(2-3), pages 164-174, August.
  28. Griliches, Zvi, 1992. " The Search for R&D Spillovers," Scandinavian Journal of Economics, Wiley Blackwell, vol. 94(0), pages S29-47, Supplemen.
  29. John P. Weyant, 1993. "Costs of Reducing Global Carbon Emissions," Journal of Economic Perspectives, American Economic Association, vol. 7(4), pages 27-46, Fall.
  30. Anke Leroux & Lin Crase, 2010. "Advancing Water Trade: A Preliminary Investigation of Urban‐Irrigation Options Contracts in the Ovens Basin, Victoria, Australia," Economic Papers, The Economic Society of Australia, vol. 29(3), pages 251-266, 09.
  31. Wood, Peter John, 2010. "Climate Change and Game Theory," Research Reports 95061, Australian National University, Environmental Economics Research Hub.
  32. Adam Borison, 2005. "Real Options Analysis: Where Are the Emperor's Clothes?," Journal of Applied Corporate Finance, Morgan Stanley, vol. 17(2), pages 17-31.
  33. Wagner, Martin, 2008. "The carbon Kuznets curve: A cloudy picture emitted by bad econometrics?," Resource and Energy Economics, Elsevier, vol. 30(3), pages 388-408, August.
  34. Ingham, Alan & Ma, Jie & Ulph, Alistair, 2007. "Climate change, mitigation and adaptation with uncertainty and learning," Energy Policy, Elsevier, vol. 35(11), pages 5354-5369, November.
  35. Viggo Nordvik & Kim Robert Lis�, 2004. "A primer on the building economics of climate change," Construction Management and Economics, Taylor & Francis Journals, vol. 22(7), pages 765-775.
  36. Priest, George L, 1996. "The Government, the Market, and the Problem of Catastrophic Loss," Journal of Risk and Uncertainty, Springer, vol. 12(2-3), pages 219-37, May.
  37. Nils Petter Gleditsch, 2012. "Whither the weather? Climate change and conflict," Journal of Peace Research, Peace Research Institute Oslo, vol. 49(1), pages 3-9, January.
  38. Joe Edmonds & John Reilly, 1983. "Global Energy and CO2 to the Year 2050," The Energy Journal, International Association for Energy Economics, vol. 0(Number 3), pages 21-48.
  39. Wolfram Laube & Benjamin Schraven & Martha Awo, 2012. "Smallholder adaptation to climate change: dynamics and limits in Northern Ghana," Climatic Change, Springer, vol. 111(3), pages 753-774, April.
  40. Nordhaus, William D & Yang, Zili, 1996. "A Regional Dynamic General-Equilibrium Model of Alternative Climate-Change Strategies," American Economic Review, American Economic Association, vol. 86(4), pages 741-65, September.
  41. Black, Fischer & Scholes, Myron S, 1973. "The Pricing of Options and Corporate Liabilities," Journal of Political Economy, University of Chicago Press, vol. 81(3), pages 637-54, May-June.
  42. Steven Sorrell, 2003. "Carbon Trading in the Policy Mix," Oxford Review of Economic Policy, Oxford University Press, vol. 19(3), pages 420-437.
  43. Robert S. Pindyck, 2013. "Climate Change Policy: What Do the Models Tell Us?," NBER Working Papers 19244, National Bureau of Economic Research, Inc.
  44. Peter Linquiti & Nicholas Vonortas, 2012. "The Value Of Flexibility In Adapting To Climate Change: A Real Options Analysis Of Investments In Coastal Defense," Climate Change Economics (CCE), World Scientific Publishing Co. Pte. Ltd., vol. 3(02), pages 1250008-1-1.
  45. Roy Darwin & Richard Tol, 2001. "Estimates of the Economic Effects of Sea Level Rise," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 19(2), pages 113-129, June.
  46. Bryan M. Maybee & Daniel J. Packey & Ronald D. Ripple, 2012. "Climate Change Policy: The Effect of Real Options Valuation on the Optimal Mitigation-Adaptation Balance," Economic Papers, The Economic Society of Australia, vol. 31(2), pages 216-224, 06.
  47. Florenz Plassmann & Neha Khanna, 2006. "Preferences, Technology, and the Environment: Understanding the Environmental Kuznets Curve Hypothesis," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 88(3), pages 632-643.
  48. Hope, Chris & Anderson, John & Wenman, Paul, 1993. "Policy analysis of the greenhouse effect : An application of the PAGE model," Energy Policy, Elsevier, vol. 21(3), pages 327-338, March.
  49. Nordhaus, William D, 1993. "Optimal Greenhouse-Gas Reductions and Tax Policy in the "Dice" Model," American Economic Review, American Economic Association, vol. 83(2), pages 313-17, May.
  50. Alistair Ulph & David Ulph, 2013. "Optimal Climate Change Policies When Governments Cannot Commit," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 56(2), pages 161-176, October.
  51. Shafik, Nemat, 1994. "Economic Development and Environmental Quality: An Econometric Analysis," Oxford Economic Papers, Oxford University Press, vol. 46(0), pages 757-73, Supplemen.
  52. Fulco Ludwig & Stephen Milroy & Senthold Asseng, 2009. "Impacts of recent climate change on wheat production systems in Western Australia," Climatic Change, Springer, vol. 92(3), pages 495-517, February.
  53. Stern, David I. & Common, Michael S. & Barbier, Edward B., 1996. "Economic growth and environmental degradation: The environmental Kuznets curve and sustainable development," World Development, Elsevier, vol. 24(7), pages 1151-1160, July.
  54. Betsy Hartmann, 2010. "Rethinking climate refugees and climate conflict: Rhetoric, reality and the politics of policy discourse," Journal of International Development, John Wiley & Sons, Ltd., vol. 22(2), pages 233-246.
  55. David I. Stern, 2004. "Diffusion of Emissions Abating Technology," Rensselaer Working Papers in Economics 0420, Rensselaer Polytechnic Institute, Department of Economics.
  56. Simon Dietz & David Maddison, 2009. "New Frontiers in the Economics of Climate Change," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 43(3), pages 295-306, July.
  57. d'Arge, Ralph C & Schulze, William D & Brookshire, David S, 1982. "Carbon Dioxide and Intergenerational Choice," American Economic Review, American Economic Association, vol. 72(2), pages 251-56, May.
  58. Westerlund, Joakim & Basher, Syed A., 2007. "Testing for Convergence in Carbon Dioxide Emissions Using a Century of Panel Data," MPRA Paper 3262, University Library of Munich, Germany.
  59. Stern, David I., 2010. "Between estimates of the emissions-income elasticity," Ecological Economics, Elsevier, vol. 69(11), pages 2173-2182, September.
  60. Arik Levinson, 2010. "Offshoring Pollution: Is the United States Increasingly Importing Polluting Goods?," Review of Environmental Economics and Policy, Association of Environmental and Resource Economists, vol. 4(1), pages 63-83, Winter.
  61. Edmonds, Jae & Reilly, John, 1983. "A long-term global energy- economic model of carbon dioxide release from fossil fuel use," Energy Economics, Elsevier, vol. 5(2), pages 74-88, April.
  62. Judith Curry, 2011. "Reasoning about climate uncertainty," Climatic Change, Springer, vol. 108(4), pages 723-732, October.
  63. Jessica Mercer, 2010. "Disaster risk reduction or climate change adaptation: Are we reinventing the wheel?," Journal of International Development, John Wiley & Sons, Ltd., vol. 22(2), pages 247-264.
  64. Kurukulasuriya, Pradeep & Mendelsohn, Robert, 2008. "Crop switching as a strategy for adapting to climate change," African Journal of Agricultural and Resource Economics, African Association of Agricultural Economists, vol. 2(1), March.
  65. Mendelsohn, Robert & Nordhaus, William D & Shaw, Daigee, 1994. "The Impact of Global Warming on Agriculture: A Ricardian Analysis," American Economic Review, American Economic Association, vol. 84(4), pages 753-71, September.
  66. Ross Garnaut & Stephen Howes & Frank Jotzo & Peter Sheehan, 2008. "Emissions in the Platinum Age: the implications of rapid development for climate-change mitigation," Oxford Review of Economic Policy, Oxford University Press, vol. 24(2), pages 377-401, Summer.
  67. Weitzman, Martin L., 2009. "On Modeling and Interpreting the Economics of Catastrophic Climate Change," Scholarly Articles 3693423, Harvard University Department of Economics.
  68. Fankhauser, Samuel & Smith, Joel B. & Tol, Richard S. J., 1999. "Weathering climate change: some simple rules to guide adaptation decisions," Ecological Economics, Elsevier, vol. 30(1), pages 67-78, July.
  69. Nicholas Stern, 2008. "The Economics of Climate Change," American Economic Review, American Economic Association, vol. 98(2), pages 1-37, May.
  70. Howard Kunreuther & Mark Pauly, 2006. "Rules rather than discretion: Lessons from Hurricane Katrina," Journal of Risk and Uncertainty, Springer, vol. 33(1), pages 101-116, September.
  71. Hassani-Mahmooei, Behrooz & Parris, Brett W., 2012. "Climate change and internal migration patterns in Bangladesh: an agent-based model," Environment and Development Economics, Cambridge University Press, vol. 17(06), pages 763-780, December.
Full references (including those not matched with items on IDEAS)

Citations

Blog mentions

As found by EconAcademics.org, the blog aggregator for Economics research:
  1. The Economics of Global Climate Change: A Historical Literature Review
    by David Stern in Stochastic Trend on 2013-11-23 12:32:00
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
as in new window

Cited by:
  1. Halkos, George, 2014. "The Economics of Climate Change Policy: Critical review and future policy directions," MPRA Paper 56841, University Library of Munich, Germany.
  2. Anjum, Zeba & Burke, Paul J. & Gerlagh, Reyer & Stern, David I., 2014. "Rethinking the Emissions-Income Relationship in Terms of Growth Rates," 2014 Conference (58th), February 4-7, 2014, Port Maquarie, Australia 165876, Australian Agricultural and Resource Economics Society.

Lists

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Statistics

Access and download statistics

Corrections

When requesting a correction, please mention this item's handle: RePEc:een:ccepwp:1307. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (David Stern).

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.