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A Meta-Analysis of the Economic Impacts of Climate Change Policy in the United States

Abstract:
This paper provides a meta-analysis of a broad set of recent studies of the economic impacts of climate change mitigation policies. It evaluates the influences of the impacts of causal factors, key economic assumptions and macroeconomic linkages on the outcome of these studies. A quantile regression analysis is also performed on the meta sample, to evaluate the robustness of those key factors throughout the full range of macro findings. Results of these analyses suggest that study results are strongly driven by data inputs, economic assumptions and modeling approaches. However, they are sometimes affected in counterintuitive ways.

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Energy Specializations: Energy Modeling – Other; Energy and the Environment – Climate Change and Greenhouse Gases; Energy and the Environment – Policy and Regulation

JEL Codes: Q41: Energy: Demand and Supply; Prices, Q42: Alternative Energy Sources, C51: Model Construction and Estimation, Q54: Climate; Natural Disasters and Their Management; Global Warming, C53: Forecasting Models; Simulation Methods

Keywords: Climate Change Policy, Macroeconomic Modeling, Meta-Analysis, Quantile Regression

DOI: 10.5547/ISSN0195-6574-EJ-Vol32-No2-6

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Published in Volume 32, Number 2 of the bi-monthly journal of the IAEE's Energy Economics Education Foundation.

 

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