reference : A review of the Stern Review on the economics of climate change

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reftype Journal Article
Abstract This article examines reactions to the Stern Review on the Economics of Climate Change. Indeed, the damages from climate change are large, and that nations should undertake sharp and immediate reductions in greenhouse gas emissions. But the economics of climate change was radically revised as it posits that the economics depends decisively on the assumption of a near-zero time discount rate combined with a specific utility function. It is argued that the Review's unambiguous conclusions about the need for extreme immediate action will not survive the substitution of assumptions that are consistent with today's marketplace real interest rates and savings rates. In conclusion, the Stern Review does not answer the central questions on the global warming policy, i.e., the "how much", "how fast" and "how costly" of responses to global warming threats.
Alternate Journal Journal of Economic Literature
Author Nordhaus, W. D.
Author Address Nordhaus, W. D.: Yale University, New Haven, CT 06520, USA.
DOI 10.1257/jel.45.3.686
Database Provider EBSCOhost
ISSN 0022-0515
Issue 3
Journal Journal of Economic Literature
Keywords climatic change; economic analysis; economic impact; environmental degradation; environmental policy; environmental protection; global warming; greenhouse effect; reviews; climate change; Natural Resource Economics (EE115) (New March 2000); Policy and Planning (EE120); Meteorology and Climate (PP500); Pollution and Degradation (PP600)
Name of Database lah
Notes Accession Number: 20073237713. Publication Type: Journal Article. Language: English. Number of References: 36 ref. Subject Subsets: Soils & Fertilizers; World Agriculture, Economics & Rural Sociology
Pages 686-702
Title A review of the Stern Review on the economics of climate change
URL http://www.jstor.org/stable/pdfplus/27646843.pdf?acceptTC=true
Volume 45
Year 2007
Bibliographic identifiers
.publisher American Economic Association
.reference_type 0
_chapter ["Ch. 26: Decision Support FINAL"]
_record_number 2271
_uuid cb6164a4-bfc3-4343-9acf-4b4e93e6b2cf