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Possible Economic Impacts of a Shutdown of the Thermohaline Circulation: an Application of FUND

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Author Info
P. Michael Link
Richard S.J. Tol () (Economic and Social Research Institute, Dublin)

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Abstract

Climate change can lead to a substantial reduction of the strength of the thermohaline circulation in the world oceans. This is often thought to have severe consequences particularly on the North Atlantic region and Northern and Western Europe. The integrated assessment model FUND is used to estimate the extent of these impacts. The results indicate that, owing to a slower warming (rather than cooling) of the regions most affected by a thermohaline circulation collapse, climate change induced damages in these regions would be smaller in case of a shutdown of the thermohaline circulation. However, even with a thermohaline circulation collapse, the total and marginal impacts of climate change are negative.

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File URL: http://www.fnu.zmaw.de/fileadmin/fnu-files/publication/working-papers/Link_Working_Paper_FNU-42.pdf
File Format: application/pdf
File Function: First version, 2004
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Publisher Info
Paper provided by Research unit Sustainability and Global Change, Hamburg University in its series Working Papers with number FNU-42.

Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Length: 18 pages
Date of creation: Apr 2004
Date of revision: Apr 2004
Publication status: Published, Portuguese Economic Journal, 3, 99-114
Handle: RePEc:sgc:wpaper:42

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Related research
Keywords: climate change; climate change impacts; thermohaline circulation; integrated assessment;

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Find related papers by JEL classification:
Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters

References listed on IDEAS
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  1. 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. [Downloadable!] (restricted)
  2. Richard Tol, 2002. "Estimates of the Damage Costs of Climate Change, Part II. Dynamic Estimates," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 21(2), pages 135-160, February. [Downloadable!] (restricted)
  3. Tol, Richard S. J., 1996. "The damage costs of climate change towards a dynamic representation," Ecological Economics, Elsevier, vol. 19(1), pages 67-90, October. [Downloadable!] (restricted)
  4. Klaus Keller & Kelvin Tan & Francois M.M. Morel & David F. Bradford, 2000. "Preserving the Ocean Circulation: Implications for Climate Policy," NBER Working Papers 7476, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  5. Richard S.J. Tol, 2002. "Technology Protocols For Climate Change: An Application Of Fund," Working Papers FNU-14, Research unit Sustainability and Global Change, Hamburg University, revised Sep 2002. [Downloadable!]
  6. Tol, Richard S. J., 2002. "Welfare specifications and optimal control of climate change: an application of fund," Energy Economics, Elsevier, vol. 24(4), pages 367-376, July. [Downloadable!] (restricted)
  7. P. Michael Link & Richard S.J. Tol, 2003. "Economic impacts of changes in population dynamics of fish on the fisheries in the Barents Sea," Working Papers FNU-30, Research unit Sustainability and Global Change, Hamburg University, revised May 2003. [Downloadable!]
  8. Richard S.J. Tol, 2002. "Emission Abatement Versus Development As Strategies To Reduce Vulnerability To Climate Change: An Application Of Fund," Working Papers FNU-12, Research unit Sustainability and Global Change, Hamburg University, revised Apr 2002. [Downloadable!]
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Cited by:
(explanations, 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.)

  1. Robert J. Nicholls & Richard S.J. Tol & Athanasios T. Vafeidis, 2005. "Global Estimates Of The Impact Of A Collapse Of The West Antarctic Ice Sheet: An Application Of Fund," Working Papers FNU-78, Research unit Sustainability and Global Change, Hamburg University, revised Jul 2005. [Downloadable!]
  2. Gary W. Yohe & Richard S.J. Tol, 2005. "Infinite Uncertainty, Forgotten Feedbacks, And Cost-Benefit Analysis Of Climate Policy," Working Papers FNU-83, Research unit Sustainability and Global Change, Hamburg University, revised Aug 2005. [Downloadable!]
    Other versions:
  3. Richard S.J. Tol & Kristie L. Ebi & Gary W. Yohe, 2006. "Infectious Disease, Development, And Climate Change: A Scenario Analysis," Working Papers FNU-109, Research unit Sustainability and Global Change, Hamburg University, revised Jun 2006. [Downloadable!]
    Other versions:
  4. Richard S.J. Tol, 2005. "The Benefits Of Greenhouse Gas Emission Reduction: An Application Of Fund," Working Papers FNU-64, Research unit Sustainability and Global Change, Hamburg University, revised Apr 2005. [Downloadable!]
  5. Anthoff, David, 2009. "Optimal Global Dynamic Carbon Taxation," Papers WP278, Economic and Social Research Institute (ESRI). [Downloadable!]
  6. Richard Tol, 2007. "The double trade-off between adaptation and mitigation for sea level rise: an application of FUND," Mitigation and Adaptation Strategies for Global Change, Springer, vol. 12(5), pages 741-753, June. [Downloadable!] (restricted)
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  7. Dritan Osmani & Richard S.J. Tol, 2008. "Evolution in time of Farsightedly Stable Coalitions: An Application of FUND," Working Papers FNU-162, Research unit Sustainability and Global Change, Hamburg University, revised May 2008. [Downloadable!]
  8. Brian S. Fisher & Guy Jakeman & Hom M. Pant & Malte Schwoon & Richard S.J. Tol, 2005. "Chimp: A Simple Population Model For Use In Integrated Assessment Of Global Environmental Change," Working Papers FNU-69, Research unit Sustainability and Global Change, Hamburg University, revised Jul 2005. [Downloadable!]
  9. Gary W. Yohe & Richard S.J. Tol, 2007. "Precaution And A Dismal Theorem: Implications For Climate Policy And Climate Research," Working Papers FNU-145, Research unit Sustainability and Global Change, Hamburg University, revised Aug 2007. [Downloadable!]
  10. Richard S.J. Tol, 2006. "The Polluter Pays Principle And Cost-Benefit Analysis Of Climate Change: An Application Of Fund," Working Papers FNU-98, Research unit Sustainability and Global Change, Hamburg University, revised Feb 2006. [Downloadable!]
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  11. Jacqueline M. Hamilton, 2005. "Coastal landscape and the hedonic price of accommodation," Working Papers FNU-91, Research unit Sustainability and Global Change, Hamburg University, revised Sep 2005. [Downloadable!]
    Other versions:
  12. Tol, Richard S. J., 2008. "The Social Cost of Carbon: Trends, Outliers and Catastrophes," Economics - The Open-Access, Open-Assessment E-Journal, Kiel Institute for the World Economy, vol. 2(25), pages 1-22. [Downloadable!]
    Other versions:
  13. Zhou Yuan & Richard S.J. Tol, 2005. "Water Use in China’s Domestic, Industrial and Agricultural Sectors: An Empirical Analysis," Working Papers FNU-67, Research unit Sustainability and Global Change, Hamburg University, revised Jun 2005. [Downloadable!]
  14. 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. [Downloadable!] (restricted)
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  15. Richard S.J. Tol, 2005. "Europe’S Long Term Climate Target: A Critical Evaluation," Working Papers FNU-92, Research unit Sustainability and Global Change, Hamburg University, revised Sep 2005. [Downloadable!]
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  16. Megan Ceronsky & David Anthoff & Cameron Hepburn & Richard S.J. Tol, 2005. "Checking The Price Tag On Catastrophe: The Social Cost Of Carbon Under Non-Linear Climate Response," Working Papers FNU-87, Research unit Sustainability and Global Change, Hamburg University, revised Aug 2005. [Downloadable!]
  17. Pushpam Kumar & Uwe A. Schneider, 2008. "Greenhouse gas emission mitigation through agriculture," Working Papers FNU-155, Research unit Sustainability and Global Change, Hamburg University, revised Feb 2008. [Downloadable!]
  18. Katrin Rehdanz & Richard S.J. Tol & Patrick Wetzel, 2005. "Ocean Carbon Sinks And International Climate Policy," Working Papers FNU-60, Research unit Sustainability and Global Change, Hamburg University, revised Feb 2005. [Downloadable!]
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  19. Richard S.J. Tol, 2006. "Integrated Assessment Modelling," Working Papers FNU-102, Research unit Sustainability and Global Change, Hamburg University, revised May 2006. [Downloadable!]
  20. Gary W. Yohe & Richard S.J. Tol & Dean Murphy, 2007. "On Setting Near-term Climate Policy while the Dust Begins to Settle: The Legacy of the Stern Review," Working Papers FNU-129, Research unit Sustainability and Global Change, Hamburg University, revised Mar 2007. [Downloadable!]
  21. David J. Maddison & Katrin Rehdanz, 2004. "The Amenity Value Of Climate To Households In Germany," Working Papers FNU-39, Research unit Sustainability and Global Change, Hamburg University, revised Jan 2005. [Downloadable!]
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  22. Tol, Richard S. J., 2008. "The Economic Impact of Climate Change," Papers WP255, Economic and Social Research Institute (ESRI). [Downloadable!]
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