@FridaHylander And here’s on the damage function. In my view the biggest problem for ALL macro-style models trying to assess optimal climate policy. The damage function is taken from nowhere. https://t.co/lUHWPPd77M
@chrisroadmap @KenCaldeira This set of exercises done by modifying DICE suggests that climate sensitivity uncertainty can have as much impact on the final numbers as discounting (especially when the damage function is allowed to be highly convex at some te
RT @RoyalEconSoc: OPEN ACCESS – In honour of #RESclimate2022 summit, have a look @EJ_RES's paper ‘How Nordhaus' Framework Supports Deep Cut…
OPEN ACCESS – In honour of #RESclimate2022 summit, have a look @EJ_RES's paper ‘How Nordhaus' Framework Supports Deep Cuts in Carbon Emissions’. Author: @lordstern1 & Simon Dietz @CEP_LSE Read👉https://t.co/uvkB6p4q5W Register👉https://t.co/fdYUndxCFd
@rustneversleepz @kelleher_ @theresphysics @MadisonECondon Yeah its basically the Dietz/Stern specification, introducing what we have long assumed in macro economics to IAM. So, again: Important thing to me is that it seems to be unequal between countries.
@MadisonECondon @rustneversleepz @theresphysics I haven't read the new paper yet, but this one from Dietz & Stern is a nice overview of the situation and compares the traditional "evaporative" approach with the growth-rate-affecting approach. https://t
@WestSarahE @lynnelewis20031 @GernotWagner @ivanjrudik @ClimateFran I would compare it with a modified version of DICE (https://t.co/plV1KjbKxO), and with NICE (https://t.co/gZR8ZuE9O5).
@gordonschuecker @theresphysics @KaiGehring1 @RichardTol @nntaleb ... it's not a "math error". e.g. Dietz and Stern in 2015 use the Nordhaus-DICE framework to justify emissions cuts req'd under the UNFCCC targets. https://t.co/QpPaxzbQiA https://t.co/YYn
@airscottdenning @asociologist An additional useful study here: https://t.co/YXRzQSUzlD
@JKSteinberger @HelenAnnHamiltn @ThomasGibon @baltrusz @pppichler Dietz and Stern. 2015. « Endogenous Growth, Convexity of Damage and Climate Risk: How Nordhaus’ Framework Supports Deep Cuts in Carbon Emissions ». The Economic Journal 125 (583): 574 620. h
@jb_sallee Dietz, Simon, et Nicholas Stern. 2015. « Endogenous Growth, Convexity of Damage and Climate Risk: How Nordhaus’ Framework Supports Deep Cuts in Carbon Emissions ». The Economic Journal 125 (583): 574‑620. https://t.co/9rpEnhIycE.
@JamesGDyke @jasonhickel @theresphysics @ProfSteveKeen @JKSteinberger @ProfSteveKeen And also the authors whose only criticism is that IAMs need to better account for risks/damages? https://t.co/M0Gxo87BJk https://t.co/slJJiH9OgF
@Drazyc1 @Anduril100 @ErikSauar @kynikeren @olehelgesen7 Stern har også publisert analyser med DICE-modellrammeverket der en rekke forutsetinger er endret - og kommer da frem til resultater som er mer i samsvar med IPCC's vurderinger ang begrensning av tem
@RichardTol Model structure: does it really not matter? e.g. one of DICE extensions in Dietz & Stern (2015) (https://t.co/209H4Q8N1G) was endogenous TFP & TFP damage (i.e. change in structure), using the same standard DICE discount rate etc.. they
RT @AlaaKhourdajie: @KateAronoff Standard Nordhaus DICE damage function leads to a loss of only 50% of GDP from 18°C by 2100. A great paper…
RT @AlaaKhourdajie: @KateAronoff Standard Nordhaus DICE damage function leads to a loss of only 50% of GDP from 18°C by 2100. A great paper…
@KateAronoff Standard Nordhaus DICE damage function leads to a loss of only 50% of GDP from 18°C by 2100. A great paper unpicking all these assumptions & systemically change them leading to conclusions inline with 1.5°C recommendations despite being pu
RT @JoelWWood: Here is a 2015 paper by Simon Dietz and Nicholas Stern that combines William Norhaus' DICE model with @paulmromer's (1986) e…
@simonscherrer @AdrianAulbach Hier etwas Info dazu, wie stark sich die Cost-Benefit-Analyse ändert, wenn einige zusätzliche Faktoren einbezogen werden. Nordhaus' Modell bezieht nicht mal Tipping Points ein. https://t.co/RcF9sYlqGk
this also looks fake. economy halving at 4 deg is even more fake than at 6 deg. maybe the endogenous growth thing is real but i'd guess probably it also applies to the costs of mitigation? https://t.co/byhlQJ0VgU
@NickCowern @DoctorVive They are considered in a rather patchy way in some models, not aware of any formal modelling for social aspects of climate impacts. However, even in the absence of these damages, some papers show drop in consumption to ~0, example b
@DoctorVive There have been quite a few critiques of the inadequacy of economic models of climate change impacts. Here is one: https://t.co/RVzV7mSMUT
@BjornLomborg Although Nordhaus' conclusions are extremely sensitive to changes in model specifications https://t.co/EdAC3sheoi
This economic study is quite scary–not so much that I disagree with the study, it is just that depending on how you model climate and the economy you can get completely different results. All we know is there are very high risks https://t.co/up0PMPIXXX #ec
@ScipioAcheronus @jgkoomey Dietz and Stern looked at endogenous factor productivity using the DICE model. Caveats that parameters are assumptions based on history, but one way of looking at it: https://t.co/wyI9MdRHuA
@dougmcneall @RichardTol @kmac You may want to crowdsource advice from a broader range of authors. This paper may help you: https://t.co/RVzV7mSMUT
RT @EJ_RES: ‘To slow or not to slow’ (1991 @EJ_RES paper by new #EconomicsNobel William Nordhaus) was the first economic appraisal of green…
RT @JoelWWood: Here is a 2015 paper by Simon Dietz and Nicholas Stern that combines William Norhaus' DICE model with @paulmromer's (1986) e…
In this 2005 paper, Samuel Fankhauser and Richard Tol combined DICE with Romer too https://t.co/y7CVItOGH6
RT @EJ_RES: ‘To slow or not to slow’ (1991 @EJ_RES paper by new #EconomicsNobel William Nordhaus) was the first economic appraisal of green…
‘To slow or not to slow’ (1991 @EJ_RES paper by new #EconomicsNobel William Nordhaus) was the first economic appraisal of greenhouse gas emissions abatement, the framework supports deep cuts in carbon emissions, @lordstern1 https://t.co/Nwv7Tpu2KX
RT @econromesh: ‘To slow or not to slow’ (1991 @EJ_RES paper by new #EconomicsNobel William Nordhaus) was the first economic appraisal of g…
RT @JoelWWood: Here is a 2015 paper by Simon Dietz and Nicholas Stern that combines William Norhaus' DICE model with @paulmromer's (1986) e…
RT @JoelWWood: Here is a 2015 paper by Simon Dietz and Nicholas Stern that combines William Norhaus' DICE model with @paulmromer's (1986) e…
RT @JoelWWood: Here is a 2015 paper by Simon Dietz and Nicholas Stern that combines William Norhaus' DICE model with @paulmromer's (1986) e…
RT @JoelWWood: Here is a 2015 paper by Simon Dietz and Nicholas Stern that combines William Norhaus' DICE model with @paulmromer's (1986) e…
RT @JoelWWood: Here is a 2015 paper by Simon Dietz and Nicholas Stern that combines William Norhaus' DICE model with @paulmromer's (1986) e…
RT @JoelWWood: Here is a 2015 paper by Simon Dietz and Nicholas Stern that combines William Norhaus' DICE model with @paulmromer's (1986) e…
RT @JoelWWood: Here is a 2015 paper by Simon Dietz and Nicholas Stern that combines William Norhaus' DICE model with @paulmromer's (1986) e…
Here is a 2015 paper by Simon Dietz and Nicholas Stern that combines William Norhaus' DICE model with @paulmromer's (1986) endogenous growth framework. A prescient tribute to the 2018 Nobel winners! https://t.co/FjcYtMboLI
RT @econromesh: ‘To slow or not to slow’ (1991 @EJ_RES paper by new #EconomicsNobel William Nordhaus) was the first economic appraisal of g…
RT @RoyalEconSoc: Congratulations to @NordhausYale for receiving this year's #NobelPrize in #Economics - author of @EJ_RES paper 'To Slow o…
RT @econromesh: ‘To slow or not to slow’ (1991 @EJ_RES paper by new #EconomicsNobel William Nordhaus) was the first economic appraisal of g…
RT @RoyalEconSoc: Congratulations to @NordhausYale for receiving this year's #NobelPrize in #Economics - author of @EJ_RES paper 'To Slow o…
RT @econromesh: ‘To slow or not to slow’ (1991 @EJ_RES paper by new #EconomicsNobel William Nordhaus) was the first economic appraisal of g…
RT @econromesh: ‘To slow or not to slow’ (1991 @EJ_RES paper by new #EconomicsNobel William Nordhaus) was the first economic appraisal of g…
‘To slow or not to slow’ (1991 @EJ_RES paper by new #EconomicsNobel William Nordhaus) was the first economic appraisal of greenhouse gas emissions abatement; the framework supports deep cuts in carbon emissions, @lordstern1 https://t.co/9nhwKFF7Rh
RT @RoyalEconSoc: Congratulations to @NordhausYale for receiving this year's #NobelPrize in #Economics - author of @EJ_RES paper 'To Slow o…
RT @RoyalEconSoc: Congratulations to @NordhausYale for receiving this year's #NobelPrize in #Economics - author of @EJ_RES paper 'To Slow o…
RT @RoyalEconSoc: Congratulations to @NordhausYale for receiving this year's #NobelPrize in #Economics - author of @EJ_RES paper 'To Slow o…
Congratulations to @NordhausYale for receiving this year's #NobelPrize in #Economics - author of @EJ_RES paper 'To Slow or not to Slow: The Economics of the Greenhouse Effect' https://t.co/a6X5aOqW2n
@mtobis @jgkoomey @past_is_future @drvox @andrew_leach Relevant recent paper from Dietz and Stern: https://t.co/V59etpbAVg https://t.co/OML9h75VSI
@jgarner296969 @newyorkcityguy5 Impact to poor disproportionate either way. e.g. https://t.co/6x5sWeD1TH and https://t.co/G3w3x097wm
Endogenous Growth, Convexity of Damage+Climate Risk: How Nordhaus' Framework Supports Deep Cuts in Carbon Emissions: https://t.co/hSQlrIEd4U
A study on growth trajectories with endogenous feedback from changing climate http://t.co/B4f4GCYL0j RT @EJ_RES
A study on growth trajectories with endogenous feedback from changing climate http://t.co/B4f4GCYL0j RT @EJ_RES
Endogenous Growth, Convexity of Damage+Climate Risk: How Nordhaus' Framework Supports Deep Cuts in Carbon Emissions: http://t.co/BN3W0hjBNo
A study on growth trajectories with endogenous feedback from changing climate http://t.co/B4f4GCYL0j RT @EJ_RES
Endogenous Growth, Convexity of Damage+Climate Risk: How Nordhaus' Framework Supports Deep Cuts in Carbon Emissions: http://t.co/BN3W0hjBNo
Endogenous Growth, Convexity of Damage+Climate Risk: How Nordhaus' Framework Supports Deep Cuts in Carbon Emissions: http://t.co/BN3W0hjBNo
#Economic Journal 125th Anniversary Special Issue #rescon2015 Endogenous Growth, Convexity .. #Economics #resconf2015 http://t.co/42Qpp3DjuL