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An Economist's Guide to Climate Change Science

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  • Solomon Hsiang
  • Robert E. Kopp

Abstract

This article provides a brief introduction to the physical science of climate change, aimed towards economists. We begin by describing the physics that controls global climate, how scientists measure and model the climate system, and the magnitude of human-caused emissions of carbon dioxide. We then summarize many of the climatic changes of interest to economists that have been documented and that are projected in the future. We conclude by highlighting some key areas in which economists are in a unique position to help climate science advance. An important message from this final section, which we believe is deeply underappreciated among economists, is that all climate change forecasts rely heavily and directly on economic forecasts for the world. On timescales of a half-century or longer, the largest source of uncertainty in climate science is not physics, but economics.

Suggested Citation

  • Solomon Hsiang & Robert E. Kopp, 2018. "An Economist's Guide to Climate Change Science," Journal of Economic Perspectives, American Economic Association, vol. 32(4), pages 3-32, Fall.
  • Handle: RePEc:aea:jecper:v:32:y:2018:i:4:p:3-32
    Note: DOI: 10.1257/jep.32.4.3
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    JEL classification:

    • A11 - General Economics and Teaching - - General Economics - - - Role of Economics; Role of Economists
    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming

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