The Oxford Handbook of the Macroeconomics of Global Warming

Edited by Lucas Bernard and Willi Semmler

Oxford Handbooks

Explores the consequences of climate change for the world economy
Considers the impact of preventative measures, adaptation policies, and international agreements on employment, growth, and business
Discusses issues of modeling, law, and protocol
Compares the effects of global warming and related policy decisions for both developed and developing nations

The Oxford Handbook of the Macroeconomics of Global Warming

Edited by Lucas Bernard and Willi Semmler

Description

The first World Climate Conference, which was sponsored by the World Meteorological Organization in Genève in 1979, triggered an international dialogue on global warming. From the 1997 United Nations-sponsored conference-during which the Kyoto Protocol was signed-through meetings in Copenhagen, Cancún, Durban, and most recently Doha (2012) and Warsaw (2013), worldwide attention to the issue of global warming and its impact on the world's economy has rapidly increased in intensity.

The consensus of these debates and discussions, however, is less than clear. Optimistically, many geoscience researchers and members of the Intergovernmental Panel on Climate Change (IPCC) have supported CO2 emission reduction pledges while maintaining that a 2°C limit in increased temperature by the year 2100 is achievable through international coordination. Other observers postulate that established CO2 reduction commitments such as those agreed to at the Copenhagen United Nations Climate Change Conference (2009) are insufficient and cannot hold the global warming increase below 2°C. As experts theorize on precisely what impact global warming will have, developing nations have become particularly alarmed. The developed world will use energy to mitigate global warming effects, but developing countries are more exposed by geography and poverty to the most dangerous consequences of a global temperature rise and lack the economic means to adapt. The complex dynamics that result from this confluence of science and geopolitics gives rise to even more complicated issues for economists, financial planners, business leaders, and policy-makers.

The Oxford Handbook of the Macroeconomics of Global Warming analyzes the economic impact of issues related to and resulting from global warming, specifically the implications of possible preventative measures, various policy changes, and adaptation efforts as well as the different consequences climate change will have on both developing and developed nations. This multi-disciplinary approach, which touches on issues of growth, employment, and development, elucidates for readers state-of-the-art research on the complex and far-reaching problem of global warming.

The Oxford Handbook of the Macroeconomics of Global Warming

Edited by Lucas Bernard and Willi Semmler

Oxford Handbooks

List of Contributors

1. The Macroeconomics of Global Warming
Lucas Bernard and Willi Semmler

PART I: GROWTH AND CLIMATE CHANGE
2. Improving Climate Projections to Better Inform Climate Risk Management
Klaus Keller and Robert Nicholas

3. Energy Balance Climate Models, Damage Reservoirs and the Time Profile of Climate Change Policy
William Brock, Gustav Engström, and Anastasios Xepapadeas

4. Economics of Environmental Regime Shifts
Florian Wagener

5. Policy Scenarios in a Model of Optimal Economics Growth and Climate Change
Helmut Maurer, Johann Jakob Preuß, and Willi Semmler

6. Adaptive Model-Predictive Climate Policies in a Multi-Country Setting
Thierry Bréchet, Carmen Camacho, and Vladimir M. Veliov

PART II: MITIGATION POLICY MODELING
7. Prospects of Tools from Differential Games in the Study of Macroeconomics of Climate Change
Jacob Engwerda

8. Fairness in Climate Negotiations: A Meta-Game Analysis Based on Community Integrated Assessment
Alain Haurie, Frédéric Babonneau, Neil Edwards, Phil Holden, Amit Kanudia, Maryse Labriet, Barbara Pizzileo, and Marc Vielle

9. Climate Change and Second-Best Abatement in a Multi-Region World with Endogenous Growth
Alfred Greiner

10. Global Warming and R&D-Based Growth in a Trade Model between Environmentally Sensitive and Environmentally Neglectful Countries
Francisco Cabo, Guiomar Martín-Herrán, and María Pilar Martínez-García

11. Climate Change and Inter-Generational Wellbeing
Jeffrey D. Sachs

12. The Atmosphere as a Global Commons: Challenges for International Cooperation and Governance
Ottmar Edenhofer, Christian Flachsland, Michael Jakob, and Kai Lessmann

13. The Social Cost of Carbon
Richard S. J. Tol

PART III: TECHNOLOGY AND ENERGY POLICIES
14. Climate-Friendly Technological Change for Developing Countries
David Popp

15. Renewable Energy: Models, Implications, and Prospects
Franz Wirl and Yuri Yegorov

16. Emission Trading Systems and Technological Innovation: A Random Matching Model
Angelo Antoci, Simone Borghesi, and Mauro Sodini

17. The Reality of Nuclear Power: The Fukushima Experience and Its Impact
Kozo Mayumi and John M. Polimeni

PART IV: ECONOMIC EFFECTS OF MITIGATION AND ADAPTATION
18. Forecast Based Pricing of Weather Derivatives
Wolfgang Karl Härdle, Brenda López Cabrera, Matthias Ritter

19. Employment and Output Effects of Climate Policies
Mika Kato, Stefan Mittnik, Daniel Samaan, and Willi Semmler

20. Macroeconomic Effects of Renewable Energy and Energy Efficiency Policies with a Focus on Germany
Christian Lutz and Ulrike Lehr

PART V: INTERNATIONAL PERSPECTIVES
21. The Stabilization of Earth's Climate in the 21st Century by the Stabilization of Per Capita Consumption
Askar Akaev

22. Does Kyoto Protocol Intensify Carbon Leakage to China?
Zhong Maochu and Shi Yadong

23. Climate Thresholds, Weather Extremes, and Catastrophic Losses
Lopamudra Banerjee

24. Climate Impacts on Agriculture: A Challenge to Complacency?
Frank Ackerman, Elizabeth A. Stanton

PART VI: DIRECTIONS IN MITIGATION POLICY DESIGN
25. The Legal Framework of Global Environment Governance on Climate Change: A Critical Survey
Raphaële Chappe

26. Environment and Development Challenges: The Imperative of a Carbon Fee and Dividend
James E. Hansen

27. The Need for Sustainable Development and a Carbon Market: Avoiding Extinction
Graciela Chichilnisky

The Oxford Handbook of the Macroeconomics of Global Warming

Edited by Lucas Bernard and Willi Semmler

Oxford Handbooks

Author Information

Lucas Bernard is a Professor of Business at The New York City College of Technology, The City University of New York.

Willi Semmler is the Henry Arnhold Professor of Economics at The New School for Social Research.

Contributors:

Frank Ackerman
Askar Akaev
Angelo Antoci
Frédéric Babonneau
Lopamudra Banerjee
Lucas Bernard
Simone Borghesi
Thierry Bréchet
William Brock
Francisco Cabo
Carmen Camacho
Raphaële Chappe
Graciela Chichilnisky
Ottmar Edenhofer
Neil Edwards
Gustav Engström
Jacob Engwerda
Christian Flachsland
Alfred Greiner
Wolfgang Karl Härdle
James E. Hansen
Alain Haurie
Phil Holden
Michael Jakob
Amit Kanudia
Mika Kato
Klaus Keller
Maryse Labriet
Ulrike Lehr
Kai Lessmann
Brenda López Cabrera
Christian Lutz
Zhong Maochu
Guiomar Martín-Herrán
María Pilar Martínez-García
Helmut Maurer
Kozo Mayumi
Stefan Mittnik
Robert Nicholas
Barbara Pizzileo
John M. Polimeni
David Popp
Johann Jakob Preuß
Matthias Ritter
Jeffrey D. Sachs
Daniel Samaan
Willi Semmler
Mauro Sodini
Elizabeth A. Stanton
Richard S. J. Tol
Vladimir M. Veliov
Marc Vielle
Florian Wagener
Franz Wirl
Anastasios Xepapadeas
Shi Yadong
Yuri Yegorov

The Oxford Handbook of the Macroeconomics of Global Warming

Edited by Lucas Bernard and Willi Semmler

Oxford Handbooks

Reviews and Awards

"Governments can and must regulate cooperatively. Private industry can and must address the causal factors, and the solutions to mitigate, global warming. In this seminal work, Bernard and Semmler give us an insightful and comprehensive framework to find the social, scientific, and economic initiatives critical to solving humankind's greatest challenge." Edgar Bronfman, Jr., Executive Chairman, Global Thermostat

"Global warming now has a book all its own... The Oxford Handbook of the Macroeconomics of Global Warming will at least give people pause for thought." Tech Times

The Oxford Handbook of the Macroeconomics of Global Warming

Edited by Lucas Bernard and Willi Semmler

Oxford Handbooks

From Our Blog

Global warming and clean energy in Asia

Modern industry is foundational for contemporary society. Yet, its dependence upon fossil fuels, primarily, and upon other chemicals, secondarily, threatens to destroy that very same society. One should note, at the outset, that those industrial processes do not so much create greenhouse gases, as they are termed, but rather release them. Global warming threatens to restore our planet to an ancient equilibrium ' an equilibrium that was home to tropical plants and dinosaurs, but not to man.

Posted on July 8, 2015

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