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Journal of Economic Literature - Book Review

JEL Volume. 50, Issue 1 | leftPrevious Review

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Book(s) Reviewed

The Economics of Climate Change: Adaptations Past and Present by Gary D. Libecap and Richard H. Steckel

Published By: A National Bureau of Economic Research Conference Report. Chicago and London: University of Chicago Press
ISBN: 978-0-226-47988-0
Date of Publication: 2011


Book Review Detail

Reviewed by: Aaron Swoboda of Carleton College
Review DOI: 10.1257/jel.50.1.179.r21
Review Pages: 222-24

Book Review Abstract

Aaron Swoboda of Carleton College reviews "The Economics of Climate Change: Adaptations Past and Present" by Gary D. Libecap and Richard H. Steckel. The EconLit Abstract of the reviewed work begins: Eleven papers explore the economics of climate change, focusing on how economies, particularly that of the United States, have adjusted to past challenges posed by climate change. Papers discuss additive damages, fat-tailed climate dynamics, and uncertain discounting (Martin L. Weitzman); modeling the impact of warming in climate change economics (Robert S. Pindyck); droughts, floods, and financial distress in the United States (John Landon-Lane, Hugh Rockoff, and Richard H. Steckel); the effects of weather shocks on crop prices in unfettered markets—the United States prior to the farm programs, 1895–1932 (Jonathan F. Fox, Price V. Fishback, and Paul W. Rhode); information and the impact of climate and weather on mortality rates during the Great Depression (Fishback, Werner Troesken, Trevor Kollmann, Michael Haines, Rhode, and Melissa Thomasson); responding to climatic challenges—lessons from U.S. agricultural development (Alan L. Olmstead and Rhode); the impact of the 1936 Corn Belt drought on American farmers' adoption of hybrid corn (Richard Sutch); the evolution of heat tolerance of corn—implications for climate change (Michael J. Roberts and Wolfram Schlenker); climate variability and water infrastructure—historical experience in the western United States (Zeynep K. Hansen, Gary D. Libecap, and Scott E. Lowe); whether Frederick Brodie discovered the world's first environmental Kuznets curve—coal smoke and the rise and fall of the London fog (Karen Clay and Troesken); and the impacts of climate change on residential electricity consumption—evidence from billing data (Anin Aroonruengsawat and Maximilian Auffhammer). Libecap is Donald Bren Distinguished Professor of Corporate Environmental Management and Professor of Economics at the University of California, Santa Barbara. Steckel is the Social and Behavioral Sciences Distinguished Professor of Economics, Anthropology, and History and a Distinguished University Professor at Ohio State University. Name and subject indexes.


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Book Review Authors

Aaron Swoboda of Carleton College


JEL Classifications

N32: Economic History: Labor and Consumers, Demography, Education, Health, Welfare, Income, Religion, and Wealth: U.S.; Canada: 1913-
N52: Economic History: Agriculture, Natural Resources, Environment, and Extractive Industries: U.S.; Canada: 1913-
Q11: Agriculture: Aggregate Supply and Demand Analysis; Prices
Q54: Climate; Natural Disasters; Global Warming
Q56: Environment and Development; Environment and Trade; Sustainability; Environmental Accounting; Environmental Equity; Population Growth


Journal of Economic Literature


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