How Much Would it Cost to Avoid Climate Change?
This paper summarises various estimates of the costs of mitigation of the adverse impact of climate change. It finds that the differences in the estimated impacts on gross domestic product, consumption, employment, and gasoline, electricity and natural gas prices are driven mainly by the following factors: the time frame of new technology development, the growth potential of existing clean sources of energy, the availability of offsets (domestic, international), and the banking of allowances. However, its main finding is that, even for more optimistic estimates, the mitigation costs are likely to amount to as much as a 1% drop in consumption, starting today and going into the future, which, as is argued in this paper, constitutes an enormous impact on social welfare. Thus, it is important to carefully assess the costs of global warming to see whether they justify such drastic measures.
Volume (Year): 10 (2009)
Issue (Month): 1 (January)
|Contact details of provider:|| |
When requesting a correction, please mention this item's handle: RePEc:wej:wldecn:369. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Ed Jones)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.