Weather Economics
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Author | : Mark Buchanan |
Publisher | : A&C Black |
Total Pages | : 273 |
Release | : 2013-01-01 |
Genre | : Business & Economics |
ISBN | : 1408827379 |
Positive feedback--when A produces B, which in turn produces even more A--drives not only abrupt climate changes, but also disruptive events in economics and finance, from asset bubbles to debt crises, bank runs, even corporate corruption. But economists, with few exceptions, have ignored this reality for fifty years, holding on to the unreasonable belief in the wisdom of the market. It's past time to be asking how markets really work. Can we replace economic magical thinking with a better means of predicting what the financial future holds, in order to prepare for--or even avoid--the next extreme economic event? Here, physicist and acclaimed science writer Mark Buchanan answers these questions and more in a master lesson on a smarter economics, which accepts that markets act much like weather. Market instability is as natural--and dangerous--as a prairie twister. With Buchanan's help, perhaps we can better govern the markets and weather their storms.
Author | : Gary D. Libecap |
Publisher | : University of Chicago Press |
Total Pages | : 365 |
Release | : 2011-06-01 |
Genre | : Business & Economics |
ISBN | : 0226479900 |
While debates over the consequences of climate change are often pessimistic, historical data from the past two centuries indicate many viable opportunities for responding to potential changes. This volume takes a close look at the ways in which economies—particularly that of the United States—have adjusted to the challenges climate change poses, including institutional features that help insulate the economy from shocks, new crop varieties, irrigation, flood control, and ways of extending cultivation to new geographic areas. These innovations indicate that people and economies have considerable capacity to acclimate, especially when private gains complement public benefits. Options for adjusting to climate change abound, and with improved communication and the emergence of new information and technologies, the potential for adaptation will be even greater in the future.
Author | : James A. Taylor |
Publisher | : Elsevier |
Total Pages | : 141 |
Release | : 2016-04-06 |
Genre | : Technology & Engineering |
ISBN | : 1483159558 |
Weather Economics presents the papers and discussions at a symposium held at the Welsh Plant Breeding Station on March 13, 1968. The book discusses the cost of British weather; the effect of the weather on farm organization and farm management; and the weather and machinery work-days. The text also describes the basic frost, irrigation and degree-day data for planning purpose; the variations in the marginal value of agricultural labor due to weather factors; and the areal patterns in the value of early potato production in Southwest Wales in 1967. The weather and risk in forestry, as well as the use of cost/benefit studies in the interpretation of probability forecasts for agriculture and industry are also encompassed.
Author | : Frank Ackerman |
Publisher | : Routledge |
Total Pages | : 193 |
Release | : 2013-02-11 |
Genre | : Business & Economics |
ISBN | : 1135074046 |
Climate science paints a bleak picture: The continued growth of greenhouse gas emissions is increasingly likely to cause irreversible and catastrophic effects. Urgent action is needed to prepare for the initial rounds of climatic change, which are already unstoppable. While the opportunity to avert all climate damage has now passed, well-designed mitigation and adaptation policies, if adopted quickly, could still greatly reduce the likelihood of the most tragic and far-reaching impacts of climate change. Climate economics is the bridge between science and policy, translating scientific predictions about physical systems into projections about economic growth and human welfare that decision makers can most readily use but it has too often consisted of an overly technical, academic approach to the problem. Getting climate economics right is not about publishing the cleverest article of the year but rather about helping solve the dilemma of the century. The tasks ahead are daunting, and failure, unfortunately, is quite possible. Better approaches to climate economics will allow economists to be part of the solution rather than part of the problem. This book analyzes potential paths for improvement.
Author | : Mr.Sebastian Acevedo Mejia |
Publisher | : International Monetary Fund |
Total Pages | : 40 |
Release | : 2018-06-13 |
Genre | : Business & Economics |
ISBN | : 1484363027 |
Global temperatures have increased at an unprecedented pace in the past 40 years. This paper finds that increases in temperature have uneven macroeconomic effects, with adverse consequences concentrated in countries with hot climates, such as most low-income countries. In these countries, a rise in temperature lowers per capita output, in both the short and medium term, through a wide array of channels: reduced agricultural output, suppressed productivity of workers exposed to heat, slower investment, and poorer health. In an unmitigated climate change scenario, and under very conservative assumptions, model simulations suggest the projected rise in temperature would imply a loss of around 9 percent of output for a representative low-income country by 2100.
Author | : Gernot Wagner |
Publisher | : Princeton University Press |
Total Pages | : 269 |
Release | : 2016-04-19 |
Genre | : Business & Economics |
ISBN | : 1400880769 |
How knowing the extreme risks of climate change can help us prepare for an uncertain future If you had a 10 percent chance of having a fatal car accident, you'd take necessary precautions. If your finances had a 10 percent chance of suffering a severe loss, you'd reevaluate your assets. So if we know the world is warming and there's a 10 percent chance this might eventually lead to a catastrophe beyond anything we could imagine, why aren't we doing more about climate change right now? We insure our lives against an uncertain future—why not our planet? In Climate Shock, Gernot Wagner and Martin Weitzman explore in lively, clear terms the likely repercussions of a hotter planet, drawing on and expanding from work previously unavailable to general audiences. They show that the longer we wait to act, the more likely an extreme event will happen. A city might go underwater. A rogue nation might shoot particles into the Earth's atmosphere, geoengineering cooler temperatures. Zeroing in on the unknown extreme risks that may yet dwarf all else, the authors look at how economic forces that make sensible climate policies difficult to enact, make radical would-be fixes like geoengineering all the more probable. What we know about climate change is alarming enough. What we don't know about the extreme risks could be far more dangerous. Wagner and Weitzman help readers understand that we need to think about climate change in the same way that we think about insurance—as a risk management problem, only here on a global scale. With a new preface addressing recent developments Wagner and Weitzman demonstrate that climate change can and should be dealt with—and what could happen if we don't do so—tackling the defining environmental and public policy issue of our time.
Author | : Debarati Guha-Sapir |
Publisher | : Oxford University Press |
Total Pages | : 341 |
Release | : 2013-05-23 |
Genre | : Business & Economics |
ISBN | : 0199841934 |
This work combines research and empirical evidence on the economic costs of disasters with theoretical approaches. It provides new insights on how to assess and manage the costs and impacts of disaster prevention, mitigation, recovery and adaption, and much more.
Author | : Gary D. Libecap |
Publisher | : University of Chicago Press |
Total Pages | : 365 |
Release | : 2011-06 |
Genre | : Business & Economics |
ISBN | : 0226479889 |
This volume takes a close look at the ways in which economies particularly that of the United States, have adjusted to the challenges climate change poses, including institutional features that help insulate the economy from shocks, new crop varieties, irrigation, flood control and ways of extending cultivation.
Author | : Sam Frankhauser |
Publisher | : |
Total Pages | : 912 |
Release | : 2019 |
Genre | : Acclimatization |
ISBN | : 9781788971539 |
"Managing climate change requires action on both its causes (reducing emissions) and its consequences (adapting to impacts that can no longer be avoided). Human societies can thrive in many climatic conditions. However, such adaptation is not necessarily smooth, and it cannot be taken for granted. This book synthesises the contribution of economics to the study and practice of climate resilience and adaptation. Including an original introduction by the editor, it brings together in one volume some of the most influential articles by economists on climate change adaptation since the topic became a subject of academic interest"--
Author | : Matthew E. Kahn |
Publisher | : International Monetary Fund |
Total Pages | : 59 |
Release | : 2019-10-11 |
Genre | : Business & Economics |
ISBN | : 1513514598 |
We study the long-term impact of climate change on economic activity across countries, using a stochastic growth model where labor productivity is affected by country-specific climate variables—defined as deviations of temperature and precipitation from their historical norms. Using a panel data set of 174 countries over the years 1960 to 2014, we find that per-capita real output growth is adversely affected by persistent changes in the temperature above or below its historical norm, but we do not obtain any statistically significant effects for changes in precipitation. Our counterfactual analysis suggests that a persistent increase in average global temperature by 0.04°C per year, in the absence of mitigation policies, reduces world real GDP per capita by more than 7 percent by 2100. On the other hand, abiding by the Paris Agreement, thereby limiting the temperature increase to 0.01°C per annum, reduces the loss substantially to about 1 percent. These effects vary significantly across countries depending on the pace of temperature increases and variability of climate conditions. We also provide supplementary evidence using data on a sample of 48 U.S. states between 1963 and 2016, and show that climate change has a long-lasting adverse impact on real output in various states and economic sectors, and on labor productivity and employment.