Norms and the development of new knowledge as determinants of climate policy

Auteurs

• Michael Schymura

Paramètres

• Manuels
• Manuels universitaires

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The evaluation of long-term climate change effects in cost-benefit analysis has a rich history in environmental economics, gaining renewed attention since the 2006 “Stern Review.” This assessment hinges on three key decisions: the chosen discount rate, which affects the comparison of immediate costs and future benefits; the uncertainties surrounding climate change, highlighted by Martin Weitzman's “dismal theorem,” which suggests that unknown factors could undermine cost-benefit analyses; and the incorporation of technological change in climate policy models. This dissertation addresses these aspects in two interconnected parts. The first part examines norms, economic welfare criteria, and catastrophic risks related to climate change, closely engaging with the discussions initiated by the Stern Review. The second part focuses on the dimensions of technological change, exploring how it is integrated into large-scale environment-economy models, the substitutability of inputs, and its impact on energy intensity—crucial for achieving climate policy targets. Additionally, it investigates the evolution of knowledge production within environmental and resource economics. While the first part is theoretical, the second is primarily empirical. Ultimately, the dissertation proposes methods for evaluating long-term climate policies and suggests improvements to address methodological shortcomings identified in the Stern Review, aiming to

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• Année de publication: 2013