The DOI matches its Crossref record; 4 of the 4 references it cites were found in a registry or an index.
Climate Change Policy: What Do the Models Tell Us?
Abstract
Very little. A plethora of integrated assessment models (IAMs) have been constructed and used to estimate the social cost of carbon (SCC) and evaluate alternative abatement policies. These models have crucial flaws that make them close to useless as tools for policy analysis: certain inputs (e.g., the discount rate) are arbitrary, but have huge effects on the SCC estimates the models produce; the models' descriptions of the impact of climate change are completely ad hoc, with no theoretical or empirical foundation; and the models can tell us nothing about the most important driver of the SCC, the possibility of a catastrophic climate outcome. IAM-based analyses of climate policy create a perception of knowledge and precision, but that perception is illusory and misleading. (JEL C51, Q54, Q58)
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Cites
On Modeling and Interpreting the Economics of Catastrophic Climate Change
Weitzman, M. L. (2009) · Review of Economics and Statistics · doi:10.1162/rest.91.1.1 · Cited by 1,791
Climate change, mortality, and adaptation: Evidence from annual fluctuations in weather in the US
Deschênes, O., & Greenstone, M. (2011) · American Economic Journal: Applied Economics · doi:10.1257/app.3.4.152 · Cited by 1,064
A Review of the Stern Review on the Economics of Climate Change
Weitzman, M. L. (2007) · Journal of Economic Literature · doi:10.1257/jel.45.3.703 · Cited by 1,024
Using weather data and climate model output in economic analyses of climate change
Auffhammer, M., Hsiang, S. M., Schlenker, W., & Sobel, A. (2013) · Review of Environmental Economics and Policy · doi:10.1093/reep/ret016 · Cited by 662
Cited by
Global non-linear effect of temperature on economic production
Burke, M., Hsiang, S. M., & Miguel, E. (2015) · Nature · doi:10.1038/nature15725 · Cited by 2,913
What Do We Learn from the Weather? The New Climate-Economy Literature
Dell, M., Jones, B. F., & Olken, B. A. (2014) · Journal of Economic Literature · doi:10.1257/jel.52.3.740 · Cited by 2,300
Estimating economic damage from climate change in the United States
Hsiang, S., Kopp, R., Jina, A., Rising, J., Delgado, M., Mohan, S., Rasmussen, D. J., Muir-Wood, R., Wilson, P., Oppenheimer, M., et al. (2017) · Science · doi:10.1126/science.aal4369 · Cited by 1,239
Comprehensive evidence implies a higher social cost of CO2
Rennert, K., Errickson, F., Prest, B. C., Rennels, L., Newell, R. G., Pizer, W., Kingdon, C., Wingenroth, J., Cooke, R., Parthum, B., et al. (2022) · Nature · doi:10.1038/s41586-022-05224-9 · Cited by 1,067
Country-level social cost of carbon
Ricke, K., Drouet, L., Caldeira, K., & Tavoni, M. (2018) · Nature Climate Change · doi:10.1038/s41558-018-0282-y · Cited by 860
Metadata
- Authors
- Pindyck, R. S.
- Venue
- Journal of Economic Literature
- Publisher
- American Economic Association
- Published
- 2013-09-01
- Volume
- 51
- Issue
- 3
- Pages
- 860-872
- ISSN
- 0022-0515 (ISSN-L)
- OpenAlex
- W2263500681
- Cited by
- 946
- References
- 4
- FWCI
- 184.64
- Type
- journal article
- Language
- en
- Open access
- closed
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