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Possible economic impacts of a shutdown of the thermohaline circulation: an application of FUND

Author

Listed:
  • P. Michael Link

    (Hamburg University, and Centre for Marine and Atmospheric Sciences
    International Max Planck Research School of Earth System Modelling)

  • Richard S. J. Tol

    (Hamburg University, and Centre for Marine and Atmospheric Sciences
    Vrije Universiteit
    Carnegie Mellon University)

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.

Suggested Citation

  • P. Michael Link & Richard S. J. Tol, 2004. "Possible economic impacts of a shutdown of the thermohaline circulation: an application of FUND," Portuguese Economic Journal, Springer;Instituto Superior de Economia e Gestao, vol. 3(2), pages 99-114, September.
    • Handle: RePEc:spr:portec:v:3:y:2004:i:2:d:10.1007_s10258-004-0033-z
    DOI: 10.1007/s10258-004-0033-z
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    JEL classification:

    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming

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