Viva Books Pvt Ltd
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The (economic) literature on climate change impacts is dominated by expert judgments and speculative models. David Maddison's book stands out for its careful empirical analysis of what past and present climate variability and variation tell us about climate change. Besides being a methodological breakthrough, this book offers sobering insights into the value of climate and climate change."
Richard S J Tol, Michael Otto Professor of Sustainability and Global Change, University of Hamburg
"This work of David Maddison and that of the other contributors to this book is an example of how statistical technique, managed in a sophisticated way, and with an imaginative approach can illuminate some of the questions that need to be asked about climate change and environmental degradation in particular."
David Pearce, Professor of Environmental Economics, University College London, and author of Blueprint for a Sustainable Economy
Description: The economic impacts of climate change are crucial to the policy issues, and understanding them requires a way of measuring the value of climate to the economy. In this book, David Maddison uses economic valuation methods to determine the amenity value of climate to different sectors of the economy in different regions of the world. They include the household sector, agriculture and tourism and they cover Britain, the United States, Italy, India and Russia. He aims both to show how the value of climate can be established, such as from agricultural land values, and to explore the factors that will influence the impact of climate change on the economy, such as the mobility of the population. His work shows that global climate change will produce a complex pattern of winners and losers, and challenges the idea that climate change will be uniformly harmful.
The book makes a significant contribution to environmental economics, advancing an approach that will stimulate debate and further work in the area, and that has important implications for policy responses to climate change.
Contents: The amenity value of the climate of Britain • The amenity value of the climate: The Household Production Function approach • The impact of climate change on agriculture in Britain • In search of warmer climates: the impact of climate change on flows of British tourists • The amenity value of the climate of Italy by David Maddison and Andrea Bigano • The effects of climate on welfare and well-being in Russia by Paul Frijters and Bernard van Praag • A hedonic study of the non-market impacts of gloabl warming in the US by Robert Mendelsohn • The amenity value of the climate of India: A Household Production Function approach