The Uncertainty about the Total Economic Impact of Climate Change
AbstractThis paper uses a vote-counting procedure to estimate the probability density function of the total economic impact as a parabolic function of global warming. There is a wide range of uncertainty about the impact of climate change up to 3ºC, and the information becomes progressively more diffuse beyond that. Warming greater than 3ºC most likely has net negative impacts, and warming greater than 7ºC may lead to a total welfare loss. The expected value of the social cost of carbon is about $29/tC in 2015 and rises at roughly 2% per year.
Download InfoIf 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.
Bibliographic InfoPaper provided by Economic and Social Research Institute (ESRI) in its series Papers with number WP382.
Date of creation: Apr 2011
Date of revision:
Climate change/uncertainty/impacts/Social cost of carbon/cost;
This paper has been announced in the following NEP Reports:
- NEP-AGR-2011-05-30 (Agricultural Economics)
- NEP-ALL-2011-05-30 (All new papers)
- NEP-ENE-2011-05-30 (Energy Economics)
- NEP-ENV-2011-05-30 (Environmental Economics)
You can help add them by filling out this form.
reading list or among the top items on IDEAS.Access and download statisticsgeneral 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: (Sarah Burns).
If references are entirely missing, you can add them using this form.