A Review of The Stern Review on the Economics of Climate Change

By Martin Weitzman. 2007

1,516 citations recorded by the source corpus.

Subfields: Economics and Econometrics, Global and Planetary Change, Renewable Energy, Sustainability and the Environment

View Paper: https://www.semanticscholar.org/paper/8b8236c8e099721983d7205538f7f7b59e783ff4

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Citations in the corpus

Fat tails, exponents, extreme uncertainty: Simulating catastrophe in DICE (2010, background): “Martin Weitzman (2007, 2009) has argued that the economic analysis of climate change is dominated by the problem of intrinsically limited information about potentially unbounded risks.”
Simulation versus Optimisation: Theoretical Positions in Energy System Modelling (2017, result): “The issue became heated again when the Stern Review on the economics of climate change argued for a low discount rate [69] and immediately was opposed by mainstream economists (Nordhaus [70]; Yohe and Tol [71]; Dasgupta [72]).”
The Stern Review and its critics: economics at work in an interdisciplinary setting (2011, background): “Only modifying one’s view of risk and uncertainty, and not incorporating ethical concerns, as argued by Weitzman (2007), seems not to be a very satisfying option based on the established interaction between climate change economics and ethics that we discussed above.”
The climate beta (2018, background): “Three decades of research on this financial puzzle suggests that the model-based CCAPM approach fails to capture many dimensions of the real world, in particular the existence of structural uncertainties and fat tails (Weitzman, 2007b).”
Targets for global climate policy: an overview (2013, neutral): “See also Nordhaus (2011), Tol (2003), Tol and Yohe (2006, 2007) and Weitzman (2007, 2009a).”
Declining discount rates: Economic justifications and implications for long-run policy (2008, positive): “This argument is developed in more details in Weitzman (2007b) and Gollier (2007).”
Climate policy modeling: An online SCI-E and SSCI based literature review (2015, background): “rate of pure time preference that discounts utility, while r is the much more familiar interest rate used to discount consumption [69].”
Carbon Lorenz curves (2010, neutral): “According to the Stern Review (2006), a highly influential but not uncontroversial report (see e.g. Nordhaus, 2007, criticizing the low rate of time preference chosen by Stern) on the economics of climate change, in a BAU scenario, the total cost of climate change is ‘‘the equivalent of around a…”
The cost of climate policy in the United States (2009, background): “…calculation is a discount rate, i.e., how 30 much less we value the future payments in comparison to the present payments of the same size, and there are different views on what the appropriate rate is for climate policy (see, for example, Nordhaus (2007) for a discussion about a discount rate).”
On Welfare Frameworks and Catastrophic Climate Risks (2013, neutral): “Since the publication of the Stern review on the economics of climate change [63], economists have been heatedly debating the appropriate welfare framework for evaluating climate change policy [66,50,13,64,16,31].”