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|Title:||Economic modelling of climate impacts: A partial review.|
|Authors:||CISCAR MARTINEZ Juan Carlos; SAVEYN Bert; VAN REGEMORTER Denise|
|Citation:||Review of Business and Economic Literature vol. 57 no. 2 p. 144-156|
|Type:||Articles in periodicals and books|
|Abstract:||Th is paper reviews the economic modelling of climate change impacts, using integrated assessment models (IAMs). IAMs consider the most relevant interactions and feedback mechanisms of the human-climate system and integrate various relevant academic disciplines, ranging from climate modeling to economics. Our paper distinguishes two approaches: First, the reduced-form approach considers the direct link between climate change and economic impacts. Th at approach is highly aggregated or top-down as it does not consider in detail the cause-eff ect mechanisms between climate change and specifi c impacts. Second, the bottom-up approach models the specifi c framework and channels between climate change and its impacts on a specifi c area. Finally, the paper discusses ways to further improve the bottom-up methodology.|
|JRC Directorate:||Growth and Innovation|
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