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Why Worry About Climate Change? A Research Agenda

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  • Richard S.J. Tol

    ()
    (Economic and Social Research Institute, Dublin)

Abstract

Estimates of the marginal damage costs of carbon dioxide emissions suggest that, although climate change is a problem and some emission reduction is justified, very stringent abatement does not pass the cost-benefit test. However, current estimates of the economic impact of climate change are incomplete. Some of the missing impacts are likely to be positive and others negative, but overall the uncertainty seems to concentrate on the downside risks and current estimates of the damage costs may have a negative bias. The research effort on the economic impacts of climate change is minute, and should be strengthened, with a particular focus on the quantification of uncertainties; estimating missing impacts, interactions between impacts and higher-order effects; the valuation of biodiversity loss; the implications of extreme climate scenarios and violent conflict; and climate change in the very long term.

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File URL: http://www.fnu.zmaw.de/fileadmin/fnu-files/publication/working-papers/whyworrywp.pdf
File Function: First version, 2006
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Bibliographic Info

Paper provided by Research unit Sustainability and Global Change, Hamburg University in its series Working Papers with number FNU-116.

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Length: 28 pages
Date of creation: Sep 2006
Date of revision: Sep 2006
Publication status: Forthcoming, Environmental Values
Handle: RePEc:sgc:wpaper:116

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Keywords: Climate change; impacts; valuation; cost-benefit analysis;

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Cited by:
  1. Pizer, William A. & Popp, David, 2007. "Endogenizing Technological Change: Matching Empirical Evidence to Modeling Needs," Discussion Papers dp-07-11, Resources For the Future.
  2. Heuson, Clemens & Gawel, Erik & Gebhardt, Oliver & Hansjürgens, Bernd & Lehmann, Paul & Meyer, Volker & Schwarze, Reimund, 2012. "Fundamental questions on the economics of climate adaptation: Outlines of a new research programme," UFZ Reports 05/2012, Helmholtz Centre for Environmental Research (UFZ).
  3. Heuson, Clemens & Gawel, Erik & Gebhardt, Oliver & Hansjürgens, Bernd & Lehmann, Paul & Meyer, Volker & Schwarze, Reimund, 2012. "Ökonomische Grundfragen der Klimaanpassung: Umrisse eines neuen Forschungsprogramms," UFZ Reports 02/2012, Helmholtz Centre for Environmental Research (UFZ).
  4. Nelson, Julie A., 2009. "Between a rock and a soft place: Ecological and feminist economics in policy debates," Ecological Economics, Elsevier, vol. 69(1), pages 1-8, November.
  5. Graham Long, 2011. "Disagreement and Responses to Climate Change," Environmental Values, White Horse Press, vol. 20(4), pages 503-525, November.
  6. Jiang, Zhujun & Tan, Jijun, 2013. "How the removal of energy subsidy affects general price in China: A study based on input–output model," Energy Policy, Elsevier, vol. 63(C), pages 599-606.
  7. Carlo Carraro & Valentina Bosetti & Enrica De Cian & Romain Duval & Emanuele Massetti & Massimo Tavoni, 2009. "The incentives to participate in and the stability of international climate coalitions: a game theoretic approach using the WITCH Model," Working Papers 2009_28, Department of Economics, University of Venice "Ca' Foscari".
  8. Gersbach, Hans & Winkler, Ralph, 2012. "Global refunding and climate change," Journal of Economic Dynamics and Control, Elsevier, vol. 36(11), pages 1775-1795.
  9. Tol, Richard S. J., 2008. "The Economic Impact of Climate Change," Papers WP255, Economic and Social Research Institute (ESRI).
  10. Gersbach, Hans & Kleinschmidt, Tobias, 2009. "Power to youth: Designing democracy for long-term well-being," Mathematical Social Sciences, Elsevier, vol. 58(2), pages 158-172, September.
  11. Valentina Bosetti & Carlo Carraro & Enrica De Cian & Romain Duval & Emanuele Massetti & Massimo Tavoni, 2009. "The Incentives to Participate in, and the Stability of, International Climate Coalitions: A Game-theoretic Analysis Using the Witch Model," Working Papers 2009.64, Fondazione Eni Enrico Mattei.
  12. Richard S. J. Tol, 2009. "The Economic Effects of Climate Change," Journal of Economic Perspectives, American Economic Association, vol. 23(2), pages 29-51, Spring.
  13. Julie A. Nelson, . "09-06 "Between a Rock and a Soft Place: Ecological and Feminist Economics in Policy Debates"," GDAE Working Papers 09-06, GDAE, Tufts University.

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