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Reflections on the Economics of Climate Change

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  • William D. Nordhaus

Abstract

My purpose here is to provide a non-technical introduction to the economics of climate change. I will sketch the scientific background and uncertainties, survey the results of existing studies of the impacts of climate change, present a summary of a study of efficient policies to slow global warming, and end with the uncertainties that haunt the entire field.

Suggested Citation

  • William D. Nordhaus, 1993. "Reflections on the Economics of Climate Change," Journal of Economic Perspectives, American Economic Association, vol. 7(4), pages 11-25, Fall.
  • Handle: RePEc:aea:jecper:v:7:y:1993:i:4:p:11-25
    Note: DOI: 10.1257/jep.7.4.11
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    File URL: http://www.aeaweb.org/articles.php?doi=10.1257/jep.7.4.11
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    References listed on IDEAS

    as
    1. Gaskins, Darius W, Jr & Weyant, John P, 1993. "Model Comparisons of the Costs of Reducing CO2 Emissions," American Economic Review, American Economic Association, vol. 83(2), pages 318-323, May.
    2. Nordhaus, William D, 1991. "To Slow or Not to Slow: The Economics of the Greenhouse Effect," Economic Journal, Royal Economic Society, vol. 101(407), pages 920-937, July.
    3. Stephen C Peck & Thomas J. Teisberg, 1992. "CETA: A Model for Carbon Emissions Trajectory Assessment," The Energy Journal, International Association for Energy Economics, vol. 0(Number 1), pages 55-78.
    4. Alan Manne & Richard Richels, 1992. "Buying Greenhouse Insurance: The Economic Costs of CO2 Emission Limits," MIT Press Books, The MIT Press, edition 1, volume 1, number 026213280x, December.
    5. Reilly, John & Hohmann, Neil, 1993. "Climate Change and Agriculture: The Role of International Trade," American Economic Review, American Economic Association, vol. 83(2), pages 306-312, May.
    6. Alan S. Manne & Richard G. Richels, 1990. "CO2 Emission Limits: An Economic Cost Analysis for the USA," The Energy Journal, International Association for Energy Economics, vol. 0(Number 2), pages 51-74.
    7. William R. Cline, 1992. "Economics of Global Warming, The," Peterson Institute Press: All Books, Peterson Institute for International Economics, number 39, October.
    8. Richard Schmalensee, 1993. "Comparing Greenhouse Gases for Policy Purposes," The Energy Journal, International Association for Energy Economics, vol. 0(Number 1), pages 245-256.
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    More about this item

    JEL classification:

    • Q25 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Water
    • Q21 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Demand and Supply; Prices
    • Q21 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Demand and Supply; Prices

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