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DTSTART:20240331T010000
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DTSTART:20241027T010000
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DTSTART;TZID=Europe/Helsinki:20241218T121500
DTEND;TZID=Europe/Helsinki:20241218T133000
DTSTAMP:20260715T083749
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UID:17196-1734524100-1734528600@crest.science
SUMMARY:Adrien BILAL  (Stanford University) "The Macroeconomic Impact of Climate Change:  Global vs. Local Temperature"
DESCRIPTION:[vc_row][vc_column][vc_column_text]Macro seminar\nTime : 12h15 – 13h30 \nDate : 18th  December 2024 \nSalle 3001 \nAdrien BILAL (Stanford University) “The Macroeconomic Impact of Climate Change: Global vs. Local Temperature”” \nAbstract: This paper estimates that the macroeconomic damages from climate change are six times larger than previously thought. Exploiting natural global temperature variability\, we find that 1°C warming reduces world GDP by 12%. Global temperature correlates strongly with extreme climatic events\, unlike country-level temperature used in previous work\, explaining our larger estimate. We use this evidence to estimate damage functions in a neoclassical growth model. Business-as-usual warming implies a 25% present welfare loss and a Social Cost of Carbon of $1\,367 per ton. These impacts suggest that unilateral decarbonization policy is cost-effective for large countries such as the United States. \nJoint work : Diego R. Känzig (Northwestern University) \nOrganizer : Jean-Baptiste MICHAU \n
URL:https://crest.science/event/kerstin-holzheu-sciences-po-t-b-a/
CATEGORIES:Macroeconomics,Seminars
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