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Wirtschaftsdienst

, Volume 98, Issue 12, pp 885–889 | Cite as

Integration of Climate Change into Long-run Macroeconomic Analysis – On the Nobel Prize to William D. Nordhaus

  • Markus Groth
Analysen und Berichte Nobelpreis
  • 18 Downloads

Abstract

On December 10, 2018, William D. Nordhaus received the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel. Nordhaus was honoured in particular for his work on integrating key aspects of climate change into long-run macroeconomic analysis. Based on fundamental aspects of integrated assessments and taking into account Nordhaus ‘biographical background, the paper presents key aspects of Nordhaus ‘integrated assessment models DICE and RICE, discusses the limitations of these models, and addresses both current criticisms on integrated assessment models as well as their relevance for climate policy.

Integration des Klimawandels in langfristige makroökonomische Analysen

Abstract

Zusammen mit Paul M. Romer erhielt William D. Nordhaus am 10. Dezember 2018 den Schwedischen Reichsbankpreis für Wirtschaftswissenschaften zu Ehren von Alfred Nobel. Nordhaus wurde dabei insbesondere für seine Arbeiten zur Integration zentraler Aspekte des Klimawandels in langfristige makroökonomische Analysen geehrt.

JEL Classification

H23 O11 Q54 

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Copyright information

© ZBW and Springer-Verlag GmbH Deutschland, ein Teil von Springer Nature 2018

Authors and Affiliations

  • Markus Groth
    • 1
  1. 1.Abteilung Klimafolgen und ÖkonomieClimate Service Center Germany (GERICS)20095Deutschland

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