Journal of Economic Perspectives: Vol. 28 No. 2 (Spring 2014)

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Correction and Update: The Economic Effects of Climate Change

Article Citation

Tol, Richard S J. 2014. "Correction and Update: The Economic Effects of Climate Change." Journal of Economic Perspectives, 28(2): 221-26.

DOI: 10.1257/jep.28.2.221

Abstract

Gremlins intervened in the preparation of my paper "The Economic Effects of Climate Change" published in the Spring 2009 issue of this journal. In Table 1 of that paper, titled "Estimates of the Welfare Impact of Climate Change," minus signs were dropped from the two impact estimates, one by Plambeck and Hope (1996) and one by Hope (2006). In Figure 1 of that paper, titled "Fourteen Estimates of the Global Economic Impact of Climate Change," and in the various analyses that support that figure, the minus sign was dropped from only one of the two estimates. The corresponding Table 1 and Figure 1 presented here correct these errors. Figure 2 titled,"Twenty-One Estimates of the Global Economic Impact of Climate Change" adds two overlooked estimates from before the time of the original 2009 paper and five more recent ones.

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Authors

Tol, Richard S. J. (U Sussex and VU U, Amsterdam)

JEL Classifications

Q54: Climate; Natural Disasters; Global Warming

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