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Reflections on the Economics of Climate Change

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  • William D. Nordhaus

Abstract

My purpose here is to provide a non-technical introduction to the economics of climate change. I will sketch the scientific background and uncertainties, survey the results of existing studies of the impacts of climate change, present a summary of a study of efficient policies to slow global warming, and end with the uncertainties that haunt the entire field.

Suggested Citation

  • William D. Nordhaus, 1993. "Reflections on the Economics of Climate Change," Journal of Economic Perspectives, American Economic Association, vol. 7(4), pages 11-25, Fall.
    • Handle: RePEc:aea:jecper:v:7:y:1993:i:4:p:11-25
    Note: DOI: 10.1257/jep.7.4.11
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    File URL: http://www.aeaweb.org/articles.php?doi=10.1257/jep.7.4.11
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    References listed on IDEAS

    as
    1. Gaskins, Darius W, Jr & Weyant, John P, 1993. "Model Comparisons of the Costs of Reducing CO2 Emissions," American Economic Review, American Economic Association, vol. 83(2), pages 318-323, May.
    2. Nordhaus, William D, 1991. "To Slow or Not to Slow: The Economics of the Greenhouse Effect," Economic Journal, Royal Economic Society, vol. 101(407), pages 920-937, July.
    3. Richard Schmalensee, 1993. "Comparing Greenhouse Gases for Policy Purposes," The Energy Journal, International Association for Energy Economics, vol. 0(Number 1), pages 245-256.
    4. Alan S. Manne & Richard G. Richels, 1990. "CO2 Emission Limits: An Economic Cost Analysis for the USA," The Energy Journal, International Association for Energy Economics, vol. 0(Number 2), pages 51-74.
    5. Stephen C Peck & Thomas J. Teisberg, 1992. "CETA: A Model for Carbon Emissions Trajectory Assessment," The Energy Journal, International Association for Energy Economics, vol. 0(Number 1), pages 55-78.
    6. Alan Manne & Richard Richels, 1992. "Buying Greenhouse Insurance: The Economic Costs of CO2 Emission Limits," MIT Press Books, The MIT Press, edition 1, volume 1, number 026213280x, December.
    7. Reilly, John & Hohmann, Neil, 1993. "Climate Change and Agriculture: The Role of International Trade," American Economic Review, American Economic Association, vol. 83(2), pages 306-312, May.
    8. William R. Cline, 1992. "Economics of Global Warming, The," Peterson Institute Press: All Books, Peterson Institute for International Economics, number 39, April.
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    More about this item

    JEL classification:

    • Q25 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Water
    • Q21 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Demand and Supply; Prices
    • Q21 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Demand and Supply; Prices

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