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Climate Change Impact on Economic Growth: Regional Climate Policy under Cooperation and Noncooperation.

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Title: Climate Change Impact on Economic Growth: Regional Climate Policy under Cooperation and Noncooperation.
Authors: Cai, Yongyang (AUTHOR), Brock, William (AUTHOR), Xepapadeas, Anastasios (AUTHOR)
Source: Journal of the Association of Environmental & Resource Economists. May2023, Vol. 10 Issue 3, p569-605. 37p.
Subject Terms: *Government policy on climate change, *Carbon taxes, *Economic impact, Economic change, Regional cooperation
Abstract: We develop a novel analysis of climate change and policy regarding climate damages to growth under regional cooperation or noncooperation. We introduce a new stylized climate module and compute the regional social cost of carbon (SCC) when climate change impacts the growth rate of regional GDP under cooperation and noncooperation between regions. We find that in the presence of climate damage to economic growth, the regional SCC is high in either a cooperative or a noncooperative world, implying that it is optimal for each region to choose stringent climate policies. Moreover, relative to cooperation, noncooperation reduces the GDP of countries in both high northern latitudes and the tropics, while the loss for developing countries in the tropics is especially significant. The welfare losses to the tropics are larger still in the absence of compensatory transfers from wealthier regions most responsible for climate change. [ABSTRACT FROM AUTHOR]
Copyright of Journal of the Association of Environmental & Resource Economists is the property of University of Chicago Press and its content may not be copied or emailed to multiple sites without the copyright holder's express written permission. Additionally, content may not be used with any artificial intelligence tools or machine learning technologies. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)
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  Data: Climate Change Impact on Economic Growth: Regional Climate Policy under Cooperation and Noncooperation.
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  Data: <searchLink fieldCode="AR" term="%22Cai%2C+Yongyang%22">Cai, Yongyang</searchLink> (AUTHOR)<br /><searchLink fieldCode="AR" term="%22Brock%2C+William%22">Brock, William</searchLink> (AUTHOR)<br /><searchLink fieldCode="AR" term="%22Xepapadeas%2C+Anastasios%22">Xepapadeas, Anastasios</searchLink> (AUTHOR)
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  Data: <searchLink fieldCode="JN" term="%22Journal+of+the+Association+of+Environmental+%26+Resource+Economists%22">Journal of the Association of Environmental & Resource Economists</searchLink>. May2023, Vol. 10 Issue 3, p569-605. 37p.
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  Data: *<searchLink fieldCode="DE" term="%22Government+policy+on+climate+change%22">Government policy on climate change</searchLink><br />*<searchLink fieldCode="DE" term="%22Carbon+taxes%22">Carbon taxes</searchLink><br />*<searchLink fieldCode="DE" term="%22Economic+impact%22">Economic impact</searchLink><br /><searchLink fieldCode="DE" term="%22Economic+change%22">Economic change</searchLink><br /><searchLink fieldCode="DE" term="%22Regional+cooperation%22">Regional cooperation</searchLink>
– Name: Abstract
  Label: Abstract
  Group: Ab
  Data: We develop a novel analysis of climate change and policy regarding climate damages to growth under regional cooperation or noncooperation. We introduce a new stylized climate module and compute the regional social cost of carbon (SCC) when climate change impacts the growth rate of regional GDP under cooperation and noncooperation between regions. We find that in the presence of climate damage to economic growth, the regional SCC is high in either a cooperative or a noncooperative world, implying that it is optimal for each region to choose stringent climate policies. Moreover, relative to cooperation, noncooperation reduces the GDP of countries in both high northern latitudes and the tropics, while the loss for developing countries in the tropics is especially significant. The welfare losses to the tropics are larger still in the absence of compensatory transfers from wealthier regions most responsible for climate change. [ABSTRACT FROM AUTHOR]
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  Data: <i>Copyright of Journal of the Association of Environmental & Resource Economists is the property of University of Chicago Press and its content may not be copied or emailed to multiple sites without the copyright holder's express written permission. Additionally, content may not be used with any artificial intelligence tools or machine learning technologies. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract.</i> (Copyright applies to all Abstracts.)
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RecordInfo BibRecord:
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    Identifiers:
      – Type: doi
        Value: 10.1086/722274
    Languages:
      – Code: eng
        Text: English
    PhysicalDescription:
      Pagination:
        PageCount: 37
        StartPage: 569
    Subjects:
      – SubjectFull: Government policy on climate change
        Type: general
      – SubjectFull: Carbon taxes
        Type: general
      – SubjectFull: Economic impact
        Type: general
      – SubjectFull: Economic change
        Type: general
      – SubjectFull: Regional cooperation
        Type: general
    Titles:
      – TitleFull: Climate Change Impact on Economic Growth: Regional Climate Policy under Cooperation and Noncooperation.
        Type: main
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            NameFull: Cai, Yongyang
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            NameFull: Brock, William
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            NameFull: Xepapadeas, Anastasios
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            – D: 01
              M: 05
              Text: May2023
              Type: published
              Y: 2023
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              Value: 10
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              Value: 3
          Titles:
            – TitleFull: Journal of the Association of Environmental & Resource Economists
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