Climatic Change

, Volume 45, Issue 3–4, pp 553–569

Country-Specific Market Impacts of Climate Change

  • Robert Mendelsohn
  • Wendy Morrison
  • Michael E. Schlesinger
  • Natalia G. Andronova
Article

Abstract

We develop a new climate-impact model, theGlobal Impact Model (GIM), which combines futurescenarios, detailed spatial simulations by generalcirculation models (GCMs), sectoral features,climate-response functions, and adaptation to generatecountry-specific impacts by market sector. Estimatesare made for three future scenarios, two GCMs, andtwo climate-response functions – a reduced-form modeland a cross-sectional model. Combining empiricallybased response functions, sectoral data by country,and careful climate forecasts gives analysts a morepowerful tool for estimating market impacts. GIMpredicts that country specific results vary, implyingthat research in this area is likely to bepolicy-relevant.

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Copyright information

© Kluwer Academic Publishers 2000

Authors and Affiliations

  • Robert Mendelsohn
    • 1
  • Wendy Morrison
    • 2
  • Michael E. Schlesinger
    • 3
  • Natalia G. Andronova
    • 3
  1. 1.Yale FESNew HavenU.S.A.
  2. 2.Middlebury CollegeMiddleburyU.S.A.
  3. 3.University of Illinois at Urbana-ChampaignUrbanaU.S.A.

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