The Economic Impacts of Climate Change (original) (raw)

2010

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A review of research on economic impacts of climate change

2009

The Agribusiness and Economics Research Unit (AERU) operates from Lincoln University providing research expertise for a wide range of organisations. AERU research focuses on agribusiness, resource, environment, and social issues. ... Founded as the Agricultural ...

Economic Impacts of Climate change

2018

The economics of climate change is detailed with emphasis on evolution of concept, various models for Calculation, Global and national scenario's concluding with best practices

Climate Changes: Economic Impact and Implications

Economic Outlook, Scientific Research Center of the Faculty of Economics, University of Pristina, 2020

Climate changes nowadays present a topic of huge importance taking into account its influence on conducting monetary and fiscal policy, achieving and improving financial stability, but also it is a concern for regulators and supervisors. In order to have an appropriate reaction, it is necessary to identify risk from climate changes in a timely manner. Three categories of climate-related risks can be identified: 1) physical risks which are associated with more frequent severe weather events and permanent changes in the environment, 2) transition risks that represent the policies and technological changes needed to achieve a greener economy, and 3) liability risk which represents the impacts that could arise tomorrow if parties who have suffered loss or damage from the effects of climate change seek compensation from those they hold responsible. As a way to achieve satisfactory results in the fight against climate change risks, the financial institutions developed climate change risk management approaches, which include a variety of methods and instruments. The aim of this paper is the presentation of impact and implication regarding climate change regulations, identification of the risks and its management approaches, as well as economic cost and proposals for future action

State of the literature on the economic impacts of climate change in the United States

Journal of Benefit-Cost Analysis, 2014

This paper discusses the current literature on impacts and adaptation costs at the sectoral level. The focus is primarily the US, but includes examples on international applications that highlight key differences or other relevant demonstrations of method and data use. The paper provides an overall framework that addresses the components of economic impacts, including definitions of impacts, adaptation costs, and residual damages. The paper then focuses on understanding the current breadth and depth of the literature that exists to characterize what we know about economic sectors studied in the recent literature (agriculture, coastal resources, water resources, infrastructure, health, crime, energy, labor productivity, and ecosystems), how the methodologies differ, what the gaps and challenges are, and offers a sense of the impacts at the US national level. A new generation of impact studies, including the U.S. EPA's ongoing Climate Impacts and Risk Analysis (CIRA) project; the new Intergovernmental Panel on Climate Change (IPCC) AR5 Working Group II report; the U.S. National Climate Assessment; and the Risky Business Project led by the Next Generation Foundation, provide the motivation for this review. These efforts, taken together, have advanced the state of US economic impact assessment work along two critical frontiers, both of which support benefit-cost analyses of climate change: assessment of the risk and economic consequences of extreme climatic events; and assessment of ecosystem effects. Yet, the latest work also highlights gaps in the lack of comprehensive sectoral coverage; more complete incorporation of adaptation opportunities in impact assessment; and critical cross-and multi-sectoral effects that remain poorly understood.

Climate change and the US economy: The costs of inaction

2008

Recent studies by leading scientists among the IPCC's panel of experts predict sea-level rise of nearly 4 feet by 2100. The IPCC also considers more erratic weather, storms, droughts, hurricanes and heat waves to be likely consequences of business-as-usual emissions. It is hard to imagine these climatic changes not having serious economic consequences, but in many ways, the economic impacts of climate change have proved more difficult to project than the future climate itself. A number of economists have conducted studies in which they take scientific predictions about climate change and use them to estimate future economic conditions. But the results of these studies don't agree, any more than the economists themselves do. The problem is that economic analysis is not science: economic models use crucial but untestable assumptions based on the set of values held by the economist. In an empirically based science, results would be expected to converge toward a consensus over time, as has happened in climate science. Indeed, reproducible empirical research is a cornerstone of the scientific method. Economics, in contrast, offers results driven by theories that differ from researcher to researcher, with no obvious empirical tests that could settle the disputes. Many of the most widely cited economic analyses of climate change are severely out of step with the gravity of the scientific consensus, which predicts an unrecognizable future climate unless action is taken quickly. Those economic analyses are equally out of step with the world's ethical consensus, as expressed in international negotiations, which views climate change as a problem of the utmost seriousness for our own and future generations. At the same time, there are many empirical studies of industries, sectors, and states, identifying damages that will be caused by unchecked climate change. Multi-billion-dollar losses have resulted from many droughts, floods, wildfires, and hurricanesevents that will likely become more frequent and more devastating as the climate continues to worsen. Tourism, agriculture, and other weather-dependent industries will suffer large losses, but no one will be exempt. A thorough review of such studies for the United States has recently been produced by the

On climate change and economic analysis

Climatic Change, 1987

Climatic change and its societal impacts have been a topic of considerable concern over the last decade. Economic analysis would seem to have much to contribute to society's understanding of the importance of this issue, yet the contributions of prior analyses have been limited. Consideration from a decisionanalytic perspective suggests that more useful insights could be gained by evaluating the effects of a changing (rather than changed) climate and the potential adaptations of society to that changing climate. Linking physical and economic models of differing levels of aggregation can be useful in analyzing a changing climate.