The Challenge of Global Warming for the Global Economy - GFDRR

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Damage and power for individual hurricanes, 1950-2005 4 0 ln (damage/GDP) -4 -8 -12 -16 3.6 4.0 4.4 4.8 5.2 ln (maximum wind) 22
Econometrics of hurricane damages (updated to 2008) “[The] amount of damage increases roughly as the cube of the maximum wind speed in storms…” (Kerry Emanuel, Nature, 2005) “While this may appear to be a relatively insignificant increase, nonlinear effects can make even a small increase important in causing damage, because damage is proportional to the cube of the wind speed.” (Anthes et al, BATIS, 2006) MAJOR SURPRISE: Super-high elasticity. (1) ln(cost/GDP) =⋅⋅⋅+ 8.09 ln (maxwind) + 0.023 year (0.66) (0.0071) 2 R = 0.503; N = 154; standard errors of coefficients in parentheses 23
Page 1 and 2: The Challenge of Global Warming for
Page 3 and 4: CO 2 concentrations at Mauna Loa 39
Page 5 and 6: IPCC AR4 Model Results: History and
Page 7 and 8: Integrated Assessment (IA) Models W
Page 9 and 10: Policy Scenarios for Analysis 1. Ba
Page 11 and 12: Concentrations profiles: DICE 2008
Page 13 and 14: What do carbon prices mean in pract
Page 15 and 16: Major issues for a revised internat
Page 17 and 18: The Economics of Hurricanes Source:
Page 19 and 20: Napatree point, Watch Hill, RI Sept
Page 21: Normalized costs of hurricanes, 195
Page 25 and 26: 2. The economics of participation O
Page 27 and 28: Attrition of Kyoto Protocol: share
Page 29 and 30: 3. Major Policy Approaches for Glob
Page 31 and 32: Cap and trade v. carbon taxes 1. Th
Page 33 and 34: Cap and trade v. carbon taxes 5. Ta

The Challenge of Global Warming for the Global Economy - GFDRR

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