The Climate Policy Dilemma
نویسنده
چکیده
Climate policy poses a dilemma for environmental economists. The economic argument forstringent greenhouse gas (GHG) abatement is far from clear. There is disagreement amongboth climate scientists and economists concerning the likelihood of alternative climateoutcomes, the nature and extent of the uncertainty of those outcomes, and the frameworkthat should be used to evaluate potential benefits from GHG abatement, including keypolicy parameters. I argue that the case for stringent abatement—if it can be made atall—cannot be based on the kinds of modeling exercises that have permeated the literaturethus far, but instead must be based on the possibility of a catastrophic outcome. I discusshow an analysis that incorporates such an outcome might be conducted. (JEL: Q54; D81,Q51)20R. S. Pindyck bygestonJne1,2013http://reeordjournals.org/Downladedfrom
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