Climate Change Impact on Economic Growth: Regional Climate Policy under Cooperation and Noncooperation
研究了气候变化对经济增长的损害在区域合作与非合作下的影响，发现无论合作与否，区域碳社会成本都很高，且非合作会显著降低热带发展中国家的GDP和福利。
We develop a novel analysis of climate change and policy regarding climate damages to growth under regional cooperation or noncooperation. We introduce a new stylized climate module and compute the regional social cost of carbon (SCC) when climate change impacts the growth rate of regional GDP under cooperation and noncooperation between regions. We find that in the presence of climate damage to economic growth, the regional SCC is high in either a cooperative or a noncooperative world, implying that it is optimal for each region to choose stringent climate policies. Moreover, relative to cooperation, noncooperation reduces the GDP of countries in both high northern latitudes and the tropics, while the loss for developing countries in the tropics is especially significant. The welfare losses to the tropics are larger still in the absence of compensatory transfers from wealthier regions most responsible for climate change.