Costs of adjustment to climate change

Quiggin, John and Horowitz, John (2003) Costs of adjustment to climate change. Australian Journal of Agricultural And Resource Economics, 47 4: 429-446. doi:10.1111/j.1467-8489.2003.00222.x

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Author Quiggin, John
Horowitz, John
Title Costs of adjustment to climate change
Journal name Australian Journal of Agricultural And Resource Economics   Check publisher's open access policy
ISSN 1364-985X
1467-8489
Publication date 2003
Sub-type Article (original research)
DOI 10.1111/j.1467-8489.2003.00222.x
Volume 47
Issue 4
Start page 429
End page 446
Total pages 18
Editor C. O'Donnell
J. Mullen
Place of publication Australia
Publisher Blackwell
Collection year 2003
Language eng
Subject C1
340202 Environment and Resource Economics
760101 Global climate change adaptation measures
Abstract The present paper argues that the costs of climate change are primarily adjustment costs. The central result is that climate change will reduce welfare whenever it occurs more rapidly than the rate at which capital stocks (interpreted broadly to include natural resource stocks) would naturally adjust through market processes. The costs of climate change can be large even when lands are close to their climatic optimum, or evenly distributed both above and below that optimum.
Keyword Economics
Ricardian Analysis
Existence Value
Agriculture
Impact
Benefit
Agricultural Economics & Policy
Q-Index Code C1

Document type: Journal Article
Sub-type: Article (original research)
Collections: Excellence in Research Australia (ERA) - Collection
2004 Higher Education Research Data Collection
School of Economics Publications
 
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Created: Wed, 15 Aug 2007, 02:30:34 EST