Observed changes in weather can reveal marginal impacts of climate change on economic outcomes and the potential for adaptation. When modeling the nonlinear relationship between weather and changes in economic outcomes empirically, model choice can confound the interpretation of marginal and percentage effects and their respective confidence intervals. I present a simple solution for better characterizing semi-elasticities of nonlinear climate damages, and evaluate its relevance in interpreting empirical climate damages. For small marginal effects, the implications of this interpretation error is small; for larger effects, however, the misinterpretation error can be substantial.
Decarbonization in Vermont: An RFF Report for the Vermont State Legislature
A new RFF report examines different policies to address greenhouse gas (GHG) emissions in Vermont.
Colorado power companies bet big on net-zero emissions as state debates 100% renewable energy future
Resources Radio: Paying For Pollution, with Gilbert Metcalf of Tufts University
Host Daniel Raimi talks with Gilbert Metcalf, the John DiBiaggio Professor of Citizenship and Public Service, a Professor of Economics, and Graduat...