Possible Economic Impacts of a Shutdown of the Thermohaline Circulation: an Application of FUND
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.
|Date of creation:||Apr 2004|
|Date of revision:||Apr 2004|
|Publication status:||Published, Portuguese Economic Journal, 3, 99-114|
|Contact details of provider:|| Postal: Bundesstrasse 55, 20146 Hamburg|
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- P. Michael Link & Richard S.J. Tol, 2003. "Economic impacts of changes in population dynamics of fish on the fisheries in the Barents Sea," Working Papers FNU-30, Research unit Sustainability and Global Change, Hamburg University, revised May 2003.
- Richard Tol, 2002. "Estimates of the Damage Costs of Climate Change. Part 1: Benchmark Estimates," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 21(1), pages 47-73, January.
- Tol, Richard S. J., 2001. "Equitable cost-benefit analysis of climate change policies," Ecological Economics, Elsevier, vol. 36(1), pages 71-85, January. Full references (including those not matched with items on IDEAS)
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