The Economics of Climate Change

How much should countries spend today to avoid climate change impacts that may be far into the future? A renown economist discusses the emerging discipline of climate economics and explores means of efficiently putting mitigation funds to work. --- How much will global warming cost future generations, and how much should we pay today to avoid the damage a warming climate will cause? Economist Per Krusell, a visiting scholar at the Kleinman Center for Energy Policy and member of the Nobel Prize for Economics Committee within the Royal Swedish Academy of Sciences, discusses the challenge of accurately pricing future damages expected to arise from climate change, and how future costs are reflected through the social cost of carbon. Krusell also highlights how climate economics attempts to guide policymakers toward strategies that make best use of limited climate mitigation funds. Per Krusell is Professor of Economics at Stockholm University. His research focuses broadly on macroeconomics, and the impacts that result from technological change and economic policy. He’s working on a long-term project on the interaction between climate change and the economy.

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