Reports

Articles in peer-reviewed journals are the gold-standard for academic research; however, these publications sometimes lag behind the latest developments in climate science and policy.

A survey of recent reports by economists finds rigorous economic support for a large-scale response to the climate crisis based on the latest scientific findings and policy proposals.

The reports included here generally reflect and build on the following principles:

Risk and uncertainty are fundamental to the climate problem; the magnitude and the irreversibility of uncertain, but possible, worst-case climate impacts dominate the analysis of policy options.
Ethics and equity are inseparable from economic analysis; there are deep questions of fairness between rich and poor today, and between present and future generations, at stake in the debate.
The severity of the problem and the scope of the required response are so great that marginal analysis of small changes and modest adjustments of market-based instruments are inadequate to the task of understanding and protecting the earth’s climate.

Reports are organized by the topic areas below and are alphabetized by lead author within each topic area.

General Perspectives | Benefits/Damage Valuation | Climate Policy Mechanisms and Impacts | Costs of Mitigation | Equity and Global Distribution

General Perspectives

How should we frame the problem of climate change in economic terms? Which economic principles need to be changed or emphasized to comprehend and analyze the current crisis?

Debating Climate Economics: The Stern Review vs. Its Critics
Frank Ackerman - Stockholm Environment Institute - U.S. Center

The Need for a Fresh Approach to Climate Change Economics
Frank Ackerman, Stephen DeCanio, Richard Howarth, Kristen Sheeran - E3 Network

Benefits/Damage Valuation

Economists have tried to assign dollar values to expected climate damages; early estimates often projected surprisingly small economic impacts. Which damages can be evaluated in monetary terms? Are newer estimates of expected damages growing larger?

The Cost of Climate Change: What We Will Pay if Climate Change Continues Unchecked
Frank Ackerman, Elizabeth Stanton - Stockholm Environment Institute - U.S. Center

The Caribbean and Climate Change: The Costs of Inaction
Frank Ackerman, Elizabeth Stanton - Global Development and Environment Institute

Florida and Climate Change: The Costs of Inaction
Frank Ackerman, Elizabeth Stanton - Global Development and Environment Institute

Climate Change and Damage from Extreme Weather Events
Robert Repetto, Robert Easton - Political Economy Research Institute

Climate Policy Mechanisms and Impacts

What policy mechanisms are available to address the climate problem? What impacts could those policy mechanisms have on jobs, household income, economic growth, and competitiveness?

Greenhouse Gases and the American Lifestyle: Understanding Interstate Differences in Emissions
Frank Ackerman, Elizabeth Stanton, and Kristen Sheeran

CLEAR Economics: State-Level Impacts of the Carbon Limits and Energy for America’s Renewal Act on Family Incomes and Jobs
James Boyce, Matthew Riddle - Political Economy Research Institute

Cap and Dividend: A State by State Analysis
James Boyce, Matthew Riddle - Political Economy Research Institute

Keeping the Government Whole: The Impact of a Cap-and-Dividend Policy for Curbing Global Warming on Government Revenue and Expenditure
James Boyce, Matthew Riddle - Political Economy Research Institute

Cap and Dividend: How to Curb Global Warming while Protecting the Incomes of American Families
James Boyce, Matthew Riddle - Political Economy Research Institute

Climate Policy and Economic Growth in California: New Studies Agree California's Economy Will Grow Strongly With AB 32 Implementation
Chris Busch - Center for Resource Solutions

Climate Policy and Economic Growth in California: A Comparative Analysis of Different Economic Impact Projections
Chris Busch - Center for Resource Solution

Energy Efficiency in the American Clean Energy and Security Act of 2009: Impacts of Current Provisions and Opportunities to Enhance the Legislation
Rachel Gold, Laura Furrey, Steven Nadel, John “Skip” Laitner, and R. Neal Elliott - American Council for an Energy Efficient Economy

The Positive Economics of Climate Change Policies: What the Historical Evidence Can Tell Us
John A. “Skip” Laitner - American Council for an Energy Efficient Economy

Climate Change Policy as an Economic Redevelopment Opportunity: The Role of Productive Investments in Mitigating Greenhouse Gas Emissions
John A. “Skip” Laitner - American Council for an Energy Efficient Economy

The American Power Act and Enhanced Energy Efficiency Provisions: Impacts on the U.S. Economy
John A. “Skip” Laitner, Rachel Gold, Steven Nadel, Therese Langer, R. Neal Elliott, and Daniel Trombley - American Council for an Energy Efficient Economy

Green Investments and the Path to Prosperity
Robert Pollin - Political Economy Research Institute

The Economic Benefits of Investing in Clean Energy: How the Economic Stimulus Program and New Legislation Can Boost U.S. Economic Growth and Employment
Robert Pollin, James Heintz, Heidi-Garrett-Peltier - Political Economy Research Institute

Job Opportunities for the Green Economy: A State-by-State Picture of Occupations that Gain from Green Investments
Robert Pollin, Jeannette Wicks-Lim - Political Economy Research Institute

State Economic Forecasts under Cap-and-Trade Legislation
Robert Pollin, Ben Zipperer

How Low-Income Consumers Would Fare in the Kerry-Lieberman Climate-Change Bill
Dottie Rosenbaum, Sharon Parrott, and Chad Stone - Center for Budget Policy Priorities

Protecting the Poor While Fighting Global Warming
Chad Stone and Hannah Shaw - Center for Budget Policy Priorities

Costs of Mitigation

The big question for public policy: how expensive will it be to do something about the problem? This complex topic has several subtopics, including:

No-regrets options — How much can be done for zero net cost? Why hasn’t it been done already?
Job creation — How do the jobs created by climate policy compare to the jobs lost, in numbers, skill levels, and locations?
Endogenous technology and path dependence — How do the costs of new low-carbon technologies change as we invest in them and gain experience? What does this imply for long-term cost predictions?

The Economics of 350: The Benefits and Costs of Climate Stabilization
Frank Ackerman, Elizabeth Stanton, Stephen DeCanio, Eban Goodstein, Richard Howarth, Richard B. Norgaard, Catherine S. Norman, Kristen A. Sheeran – E3 Network

The Size of the U.S. Energy Efficiency Market: Generating a More Complete Picture
Karen Ehrhardt-Martinez, John A. “Skip” Laitner - American Council for an Energy Efficient Economy

Reducing U.S. Greenhouse Gas Emissions: How Much at What Cost?
McKinsey Institute

Equity and Global Distribution

Climate protection is a pure public good; emission reductions anywhere benefit people everywhere. What international arrangements are needed to coordinate reductions worldwide and overcome the free-rider problem? What is the appropriate standard of equity in allocating the costs of global policies to nations and individuals?

The Right to Development in a Climate Constrained World
Paul Baer, Tom Athanasiou, Sivan Kartha - EcoEquity

Greenhouse Development Rights Framework
Paul Baer, Tom Athanasiou, Sivan Kartha, Eric Kemp-Benedict - EcoEquity

Europe's Share of the Climate Challenge: Domestic Actions and International Obligations to Protect the Planet
Charles Heaps, Peter Erickson, Sivan Kartha, Eric Kemp-Benedict - Stockholm Environment Institute - U.S. Center