Uncertain outcomes and climate change policy

Journal of Environmental Economics and Management

Volumn 63, Issue 3, 2012, Pages 289-303

  Pindyck, Robert S ^a  

^a MASSACHUSETTS INSTITUTE OF TECHNOLOGY   (United States)

Author keywords

Catastrophic outcomes; Climate change; Economic impact; Environmental policy; Global warming; Uncertainty; Willingness to pay

Indexed keywords

CATASTROPHIC OUTCOMES; ECONOMIC IMPACT; ENVIRONMENTAL POLICY; UNCERTAINTY; WILLINGNESS TO PAY;

CLIMATE CHANGE; ENVIRONMENTAL PROTECTION; GLOBAL WARMING;

ECONOMIC AND SOCIAL EFFECTS;

CONSUMPTION BEHAVIOR; ECONOMIC IMPACT; ENVIRONMENTAL ECONOMICS; ENVIRONMENTAL POLICY; GLOBAL WARMING; STATISTICAL DISTRIBUTION; TEMPERATURE PROFILE; UNCERTAINTY ANALYSIS; WILLINGNESS TO PAY;

EID: 84858340149     PISSN: 00950696     EISSN: 10960449     Source Type: Journal    
DOI: 10.1016/j.jeem.2011.12.001     Document Type: Article

References (44)

1. R. Bansal, M. Ochoa, Welfare Costs of Long-Run Temperature Shifts, NBER Working Paper 17574, November 2011.
2. R. Bansal, M. Ochoa, Temperature, Aggregate Risk, and Expected Returns, NBER Working Paper 17575, November 2011.
3. Brock W.A., Taylor M.S. The Green Solow model. Journal of Economic Growth 2010.
4. Dasgupta P. Discounting climate change. Journal of Risk and Uncertainty 2008, 37:141-169.
5. Dasgupta P., Mäler K.-G., Barrett S. Intergenerational equity, social discount rates, and global warming. Discounting and Intergenerational Equity, Resources for the Future 1999, (Chapter 7). P. Portney, J. Weyant (Eds.).
6. Debreu G. A classical tax-subsidy problem. Econometrica 1954, 22(January):14-22.
7. M. Dell, B.F. Jones, B.A. Olken, Climate Change and Economic Growth: Evidence from the Last Half Century, NBER Working Paper 14132, June 2008.
8. Dell M., Jones B.F., Olken B.A. Temperature and income: reconciling new cross-sectional and panel estimates. American Economic Review 2009, 99(May):198-204.
9. Dietz S., Stern N. Why economic analysis supports strong action on climate change: a response to the Stern Review's critics. Review of Environmental Economics and Policy 2008, 2:94-113.
10. Energy Information Administration, Comparing Cost Estimates for the Kyoto Protocol, Report No. SR/OIAF/98-03, October 1998.
11. Fankhauser S., Tol R.S.J. On climate change and economic growth. Resource and Energy Economics 2005, 27:1-17.
12. Fisher A.C., Narain U. Global warming, endogenous risk, and irreversibility. Environmental and Resource Economics 2003, 25:395-416.
13. Heal G. Climate economics: a meta-review and some suggestions. Review of Environmental Economics and Policy 2009, 3:4-21.
14. Heal G., Kriström B. Uncertainty and climate change. Environmental and Resource Economics 2002, 22(June):3-39.
15. 2 from PAGE2002: an integrated assessment model incorporating the IPCC's five reasons for concern. Integrated Assessment 2006, 6:1-16.
16. Intergovernmental Panel on Climate Change (IPCC), Climate Change 2007: The Physical Science Basis, Cambridge University Press, 2007.
17. Intergovernmental Panel on Climate Change (IPCC), Climate Change 2007: Impacts, Adaptation, and Vulnerability, 2007.
18. Intergovernmental Panel on Climate Change (IPCC), Climate Change 2007: Mitigation of Climate Change, 2007.
19. Kolstad C.D. Learning and stock effects in environmental regulation: the case of greenhouse gas emissions. Journal of Environmental Economics and Management 1996, 31:1-18.
20. Kolstad C.D. Fundamental irreversibilities in stock externalities. Journal of Public Economics 1996, 60:221-233.
21. Lucas R.E. Models of Business Cycles 1987, Basil Blackwell, Oxford.
22. Mendelsohn R. Is the Stern Review an economic analysis?. Review of Environmental Economics and Policy 2008, 2:45-60.
23. Mendelsohn R., Morrison W.N., Schlesinger M.E., Andronova N.G. Country-specific market impacts of climate change. Climatic Change 1998, 45:553-569.
24. Newbold S.C., Daigneault A. Climate response uncertainty and the benefits of greenhouse gas emissions reductions. Environmental and Resource Economics 2010, 44(3):351-377.
25. Newell R.G., Pizer W.A. Regulating stock externalities under uncertainty. Journal of Environmental Economics and Management 2003, 46:416-432.
26. Nordhaus W.D. A review of the Stern Review on the Economics of Climate Change. Journal of Economic Literature 2007, (September):686-702.
27. Nordhaus W.D. A Question of Balance: Weighing the Options on Global Warming Policies 2008, Yale University Press.
28. Nordhaus W.D., Boyer J.G. Warming the World: Economic Models of Global Warming 2000, M.I.T. Press.
29. Pindyck R.S. Irreversibilities and the timing of environmental policy. Resource and Energy Economics 2000, 22(July):233-259.
30. Pindyck R.S. Optimal timing problems in environmental economics. Journal of Economic Dynamics and Control 2002, 26(July):1677-1697.
31. Pindyck R.S. Uncertainty in environmental economics. Review of Environmental Economics and Policy 2007, 1(Winter):45-65.
32. Pindyck R.S. Modeling the impact of warming in climate change economics. The Economics of Climate Change 2011, University of Chicago Press. G. Libecap, R. Steckel (Eds.).
33. Pindyck R.S. Fat tails, thin tails, and climate change policy. Review of Environmental Economics and Policy 2011, 5(Summer):258-274.
34. Roe G.H., Baker M.B. Why is climate sensitivity so unpredictable?. Science 2007, 318(October):629-632.
35. A.P. Sokolov, P.H. Stone, C.E. Forest, R. Prinn, M.C. Sarofim, M. Webster, S. Paltsev, C.A. Schlosser, D. Kicklighter, S. Dutkiewicz, J. Reilly, C. Wang, B. Felzer, H.D. Jacoby, Probabilistic Forecast for 21st Century Climate Based on Uncertainties in Emissions (Without Policy) and Climate Parameters, MIT Joint Program on the Science and Policy of Global Change, Report No. 169, January 2009.
36. Stern N. The Economics of Climate Change: The Stern Review 2007, Cambridge University Press.
37. Stern N. The economics of climate change. American Economic Review 2008, 98(May):1-37.
38. Stokey N. Are there limits to growth?. International Economic Review 1998, 39(February):1-31.
39. Tol R.S.J. Estimates of the damage costs of climate change. Environmental and Resource Economics 2002, 21:47-73. (Part 1: Benchmark Estimates), 135-160 (Part 2: Dynamic Estimates).
40. Tol R.S.J. The economic effects of climate change. Journal of Economic Perspectives 2009, 23(Spring):29-51.
41. Weitzman M.L. A review of the Stern Review on the economics of climate change. Journal of Economic Literature 2007, (September):703-724.
42. M.L. Weitzman, Some Dynamic Economic Consequences of the Climate-Sensitivity Inference Dilemma, unpublished manuscript, February 2008.
43. Weitzman M.L. On modeling and interpreting the economics of catastrophic climate change. Review of Economics and Statistics 2009.
44. Weitzman M.L. Additive damages, fat-tailed climate dynamics, and uncertain discounting. Economics: The Open-Access E-Journal 2009, 3:39.