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Your Money or Your Life: Green Growth Policies and Welfare in 2050

Author

Listed:
  • Alain Serres
  • Fabrice Murtin

Abstract

This paper proposes a simple index of economic progress that weighs in the monetary cost induced by climate change mitigation policies as well as the health benefits arising from the reduction in local air pollution. The shadow price of pollution is calculated indirectly through its impact on life expectancy. Taking into account the health benefits of mitigation policies significantly reduces their monetary cost in China and India, as well as in countries with large fossil-based energy-producing sectors (Australia, Canada and the United States). Copyright Springer Science+Business Media Dordrecht 2016

Suggested Citation

  • Alain Serres & Fabrice Murtin, 2016. "Your Money or Your Life: Green Growth Policies and Welfare in 2050," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 63(3), pages 571-590, March.
    • Handle: RePEc:kap:enreec:v:63:y:2016:i:3:p:571-590
    DOI: 10.1007/s10640-014-9849-x
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    Cited by:

    1. Romina Boarini & Marc Fleurbaey & Fabrice Murtin & Paul Schreyer, 2022. "Well‐being during the Great Recession: new evidence from a measure of multi‐dimensional living standards with heterogeneous preferences," Scandinavian Journal of Economics, Wiley Blackwell, vol. 124(1), pages 104-138, January.

    More about this item

    Keywords

    Climate change; Health; Value of a statistical life; Welfare measurement; I31; Q51; Q54;
    All these keywords.

    JEL classification:

    • I31 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - General Welfare, Well-Being
    • Q51 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Valuation of Environmental Effects
    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming

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