IDEAS home Printed from https://ideas.repec.org/a/eee/ecolec/v77y2012icp219-224.html
   My bibliography  Save this article

Climate damages in the FUND model: A disaggregated analysis

Author

Listed:
  • Ackerman, Frank
  • Munitz, Charles

Abstract

We examine the treatment of climate damages in the FUND model. By inserting software switches to turn individual features on and off, we obtain FUND's estimates for 15 categories of damages, and for components of the agricultural category. FUND, as used by the U.S. government to estimate the social cost of carbon, projects a net benefit of climate change in agriculture, offset by a slightly larger estimate of all other damages. Within agriculture there is a large benefit from CO2 fertilization, a moderate cost from the effect of temperature on yields, and a much smaller impact of the rate of change.

Suggested Citation

  • Ackerman, Frank & Munitz, Charles, 2012. "Climate damages in the FUND model: A disaggregated analysis," Ecological Economics, Elsevier, vol. 77(C), pages 219-224.
    • Handle: RePEc:eee:ecolec:v:77:y:2012:i:c:p:219-224
    DOI: 10.1016/j.ecolecon.2012.03.005
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0921800912001176
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.ecolecon.2012.03.005?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Nicholas Stern, 2008. "The Economics of Climate Change," American Economic Review, American Economic Association, vol. 98(2), pages 1-37, May.
    2. William R. Cline, 2007. "Global Warming and Agriculture: Impact Estimates by Country," Peterson Institute Press: All Books, Peterson Institute for International Economics, number 4037, April.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. van den Bergh, J.C.J.M. & Botzen, W.J.W., 2015. "Monetary valuation of the social cost of CO2 emissions: A critical survey," Ecological Economics, Elsevier, vol. 114(C), pages 33-46.
    2. Havranek, Tomas & Irsova, Zuzana & Janda, Karel & Zilberman, David, 2015. "Selective reporting and the social cost of carbon," Energy Economics, Elsevier, vol. 51(C), pages 394-406.
    3. Michael Grubb & Jean-Francois Mercure & Pablo Salas & Rutger-Jan Lange & Ida Sognnaes, 2018. "Systems Innovation, Inertia and Pliability: A mathematical exploration with implications for climate change abatement," Working Papers EPRG 1808, Energy Policy Research Group, Cambridge Judge Business School, University of Cambridge.
    4. Johannes Emmerling, 2018. "Sharing Of Climate Risks Across World Regions," Climate Change Economics (CCE), World Scientific Publishing Co. Pte. Ltd., vol. 9(03), pages 1-19, August.
    5. Milad Eghtedari Naeini & Benjamin D. Leibowicz & J. Eric Bickel, 2020. "Can you trust a model whose output keeps changing? Interpreting changes in the social cost of carbon produced by the DICE model," Environment Systems and Decisions, Springer, vol. 40(3), pages 301-320, September.
    6. Zhang, Hailing & Liu, Changxin & Wang, Can, 2021. "Extreme climate events and economic impacts in China: A CGE analysis with a new damage function in IAM," Technological Forecasting and Social Change, Elsevier, vol. 169(C).
    7. van den Bijgaart, Inge & Gerlagh, Reyer & Liski, Matti, 2016. "A simple formula for the social cost of carbon," Journal of Environmental Economics and Management, Elsevier, vol. 77(C), pages 75-94.
    8. van den Bijgaart, Inge & Gerlagh, Reyer & Liski, Matti, 2016. "A simple formula for the social cost of carbon," Journal of Environmental Economics and Management, Elsevier, vol. 77(C), pages 75-94.
    9. Zhou, Li & Turvey, Calum G., 2014. "Climate change, adaptation and China's grain production," China Economic Review, Elsevier, vol. 28(C), pages 72-89.
    10. Nelson, J.A., 2013. "Ethics and the economist: What climate change demands of us," Ecological Economics, Elsevier, vol. 85(C), pages 145-154.
    11. Stephen Keen & Timothy M. Lenton & Antoine Godin & Devrim Yilmaz & Matheus Grasselli & Timothy J. Garrett, 2021. "Economists' erroneous estimates of damages from climate change," Papers 2108.07847, arXiv.org.
    12. Rennels, Lisa & Rennert, Kevin & Errickson, Frank & Anthoff, David & Wingenroth, Jordan & Prest, Brian C., 2024. "Accounting for Biodiversity Loss Raises the Social Cost of CO2," RFF Working Paper Series 24-23, Resources for the Future.
    13. Anthony Bonen & Willi Semmler & Stephan Klasen, 2014. "Economic Damages from Climate Change: A Review of Modeling Approaches," SCEPA working paper series. 2014-3, Schwartz Center for Economic Policy Analysis (SCEPA), The New School.
    14. Richard S. J. Tol, 2024. "Database for the meta-analysis of the social cost of carbon (v2025.1)," Papers 2402.09125, arXiv.org, revised Feb 2025.
    15. Changxin Liu & Hailing Zhang & Zheng Wang, 2019. "Study on the Functional Improvement of Economic Damage Assessment for the Integrated Assessment Model," Sustainability, MDPI, vol. 11(5), pages 1-18, February.
    16. Gu, Gaoxiang & Wang, Zheng, 2018. "China’s carbon emissions abatement under industrial restructuring by investment restriction," Structural Change and Economic Dynamics, Elsevier, vol. 47(C), pages 133-144.
    17. William Nordhaus, 2014. "Estimates of the Social Cost of Carbon: Concepts and Results from the DICE-2013R Model and Alternative Approaches," Journal of the Association of Environmental and Resource Economists, University of Chicago Press, vol. 1(1), pages 000.
    18. Sgouris Sgouridis & Abdulla Kaya & Denes Csala, 2016. "Switching Economics for Physics and the Carbon Price Inflation: Problems in Integrated Assessment Models and their Implications," Papers 1603.06196, arXiv.org.
    19. Tao Xiang & Tariq H. Malik & Jack W. Hou & Jiliang Ma, 2022. "The Impact of Climate Change on Agricultural Total Factor Productivity: A Cross-Country Panel Data Analysis, 1961–2013," Agriculture, MDPI, vol. 12(12), pages 1-20, December.
    20. Richard S.J. Tol, 2021. "Estimates of the social cost of carbon have not changed over time," Working Paper Series 0821, Department of Economics, University of Sussex Business School.
    21. van den Bijgaart, Inge, 2016. "Essays in environmental economics and policy," Other publications TiSEM 298bee2a-cb08-4173-9fe1-8, Tilburg University, School of Economics and Management.
    22. Patrick Breun & Magnus Fröhling & Konrad Zimmer & Frank Schultmann, 2017. "Analyzing investment strategies under changing energy and climate policies: an interdisciplinary bottom-up approach regarding German metal industries," Journal of Business Economics, Springer, vol. 87(1), pages 5-39, January.
    23. Richard S. J. Tol, 2021. "Estimates of the social cost of carbon have increased over time," Papers 2105.03656, arXiv.org, revised Aug 2022.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. -, 2015. "La economía del cambio climático en América Latina y el Caribe: paradojas y desafíos del desarrollo sostenible," Libros y Documentos Institucionales, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), number 37310 edited by Cepal, September.
    2. O'Hara, Phillip Anthony, 2009. "Political economy of climate change, ecological destruction and uneven development," Ecological Economics, Elsevier, vol. 69(2), pages 223-234, December.
    3. Mattoo, Aaditya & Subramanian, Arvind, 2012. "Equity in Climate Change: An Analytical Review," World Development, Elsevier, vol. 40(6), pages 1083-1097.
    4. Fisher, Anthony, 2014. "Climate Science and Climate Economics," Department of Agricultural & Resource Economics, UC Berkeley, Working Paper Series qt746627gz, Department of Agricultural & Resource Economics, UC Berkeley.
    5. Fisher, A. C & Le, P. V, 2014. "Climate Policy: Science, Economics, and Extremes," Department of Agricultural & Resource Economics, UC Berkeley, Working Paper Series qt6tj3j4jb, Department of Agricultural & Resource Economics, UC Berkeley.
    6. van den Bergh, J.C.J.M. & Botzen, W.J.W., 2015. "Monetary valuation of the social cost of CO2 emissions: A critical survey," Ecological Economics, Elsevier, vol. 114(C), pages 33-46.
    7. World Bank, 2009. "Africa - Making Development Climate Resilient : A World Bank Strategy for Sub-Saharan Africa," World Bank Publications - Reports 3211, The World Bank Group.
    8. -, 2014. "La economía del cambio climático en América Latina y el Caribe: paradojas y desafíos. Síntesis 2014," Sede de la CEPAL en Santiago (Estudios e Investigaciones) 37471, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    9. Kruse, Tobias & Atkinson, Giles, 2022. "Understanding public support for international climate adaptation payments: Evidence from a choice experiment," Ecological Economics, Elsevier, vol. 194(C).
    10. Melissa Dell & Benjamin F. Jones & Benjamin A. Olken, 2014. "What Do We Learn from the Weather? The New Climate-Economy Literature," Journal of Economic Literature, American Economic Association, vol. 52(3), pages 740-798, September.
    11. Pogany, Peter, 2013. "Thermodynamic Isolation and the New World Order," MPRA Paper 49924, University Library of Munich, Germany.
    12. Tingey-Holyoak, Joanne & Cooper, Bethany & Crase, Lin & Pisaniello, John, 2024. "A framework for supporting climate-exposed asset decision-making in agriculture," Land Use Policy, Elsevier, vol. 137(C).
    13. Jayatilleke S. Bandara & Yiyong Cai, 2014. "The impact of climate change on food crop productivity, food prices and food security in South Asia," Economic Analysis and Policy, Elsevier, vol. 44(4), pages 451-465.
    14. Hongbo Duan & Gupeng Zhang & Shouyang Wang & Ying Fan, 2018. "Balancing China’s climate damage risk against emission control costs," Mitigation and Adaptation Strategies for Global Change, Springer, vol. 23(3), pages 387-403, March.
    15. Luca Gerotto & Paolo Pellizzari, 2021. "A replication of Pindyck’s willingness to pay: on the efforts required to obtain results," SN Business & Economics, Springer, vol. 1(5), pages 1-25, May.
    16. Patrycja Klusak & Matthew Agarwala & Matt Burke & Moritz Kraemer & Kamiar Mohaddes, 2023. "Rising Temperatures, Falling Ratings: The Effect of Climate Change on Sovereign Creditworthiness," Management Science, INFORMS, vol. 69(12), pages 7468-7491, December.
    17. Philippe Aghion & Antoine Dechezleprêtre & David Hémous & Ralf Martin & John Van Reenen, 2016. "Carbon Taxes, Path Dependency, and Directed Technical Change: Evidence from the Auto Industry," Journal of Political Economy, University of Chicago Press, vol. 124(1), pages 1-51.
    18. Pindyck, Robert S., 2012. "Uncertain outcomes and climate change policy," Journal of Environmental Economics and Management, Elsevier, vol. 63(3), pages 289-303.
    19. Martinsson, Gustav & Sajtos, László & Strömberg, Per & Thomann, Christian, 2022. "Carbon Pricing and Firm-Level CO2 Abatement: Evidence from a Quarter of a Century-Long Panel," Misum Working Paper Series 2022-10, Stockholm School of Economics, Mistra Center for Sustainable Markets (Misum).
    20. Dr Barry Naughten, 2013. "Emissions Pricing, 'Complementary Policies' and 'Direct Action' in the Australian Electricity Supply Sector: 'Lock-in' and Investment," CCEP Working Papers 1304, Centre for Climate & Energy Policy, Crawford School of Public Policy, The Australian National University.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:ecolec:v:77:y:2012:i:c:p:219-224. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/ecolecon .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.