A Third Wave in the Economics of Climate Change

By J. D. Farmer, Cameron Hepburn, Penny Mealy, Alexander Teytelboym. 2015

258 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/ca643ad3c7c785265ebafee0d1103e5d7e206c92

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In Economics and Econometrics

Citations in the corpus

Climate risks and financial stability (2021, background): “In this regard, a growing stream of research has discussed the limits of traditional approaches for the analysis of the macroeconomic and financial impacts of climate change and climate policies (Farmer et al., 2015; Mercure et al., 2016; Dafermos and Nikolaidi, 2019; Monasterolo, 2020).”
Faraway, So Close: Coupled Climate and Economic Dynamics in an Agent-based Integrated Assessment Model (2018, unknown): “Agent-based models (Tesfatsion and Judd, 2006; Fagiolo and Roventini, 2012, 2017) constitute a valuable and promising alternative to IAMs (Smajgl et al., 2011; Farmer et al., 2015; Stern, 2016; Mer-cure et al., 2016; Balint et al., 2017).”
An agent-based stock-flow consistent model of the sustainable transition in the energy sector (2018, background): “, 2016), is an alternative approach able to address shortcomings of IAMs because it provides a way for addressing out-of-equilibrium dynamics in economic systems (Farmer et al., 2015).”
From financial instability to green finance: the role of banking and credit market regulation in the Eurace model (2019, background): “…to be applied also to study climate change economics and investigate related policies, see e.g. Balint et al. (2017) for a compressive review and Farmer et al. (2015) for a general discussion about the potential advantages of agent-based models with respect to integrated assessment models,…”
A Review of Criticisms of Integrated Assessment Models and Proposed Approaches to Address These, through the Lens of BECCS (2019, background): “These reduced-form IAMs—whose results are most commonly reported in IPCC WGII reports—focus on the impacts of climate change [19].”
Complexity and the Economics of Climate Change: A Survey and a Look Forward (2017, unknown): “Given the foregoing issues, one of the main advantage of macro ABM is to allow for a micro-level representation of the interactions between climate change and economic dynamics (as emphasized in particular by Moss, 2002a and, more recently, Farmer et al., 2015).”
Quantifying the economic risks of climate change (2017, background): “Several authors have pointed out that using a declining marginal value of consumption for the purposes of time discounting but not in evaluating the importance of damages to different populations is inconsistent and could disguise important distributional impacts (Farmer et al., 2015; Sterner & Pers”