Climate Change

Part One: Presentation


Ernesto Zedillo, Director,
Yale Center for the Study of Globalization

Chapter 1: Findings of the Stern Review
on the Economics of Climate Change

Sir Nicholas Stern, UK Government

Why Bother About Climate Change?

The Economics of Climate Change

Analytical Framework of the Stern Review

Policy Issues


Chapter 2: PAGE Modeling System

Chris Hope, University of Cambridge

Chapter 3: Question and Answer

Question & Answer

Chapter 4: Closing Remarks

J. Gustave Speth, Dean, Yale School of Forestry
and Environmental Studies

Part Two: Comments

Chapter 5: William Nordhaus, Yale University

Opposite Ends of the Globe

Areas of Agreement and Disagreement

Review, Reproducibility, and Modeling

The Discounting Controversy

Economic Modeling With Low Discount Rates

Summary Verdict

Chapter 6: William Cline, Peterson Institute
for International Economics

My Earlier Results

The Discount Rate

How Rapidly Does Marginal Utility Drop Off?

When to Act?



Part Two continued

Chapter 7: Gary Yohe, Wesleyan University

Gary Yohe

Chapter 8: Robert Mendelsohn, Yale University

Robert Mendelsohn

Chapter 9: Scott Barrett, Johns Hopkins
University, Paul H. Nitze School of Advanced
I nternational Studies

Scott Barrett

Chapter 10: Jeffrey Sachs, Columbia University

Jeffrey Sachs

Chapter 11: Reaction to the Panelists:
Sir Nicholas Stern

The Role of Integrated Assessment Models in Policy Analysis Ethics

Alternative Strategies and the Structure of Risks

Social Costs of Carbon and Radical Policy

“Political Constraints” and Peer Review

Additional Points


Response to Scott Barrett and Jeffrey Sachs

Chapter 12: Panelist Responses

Panelist Responses

Chapter 13: Final Comments

Final Comments

Chapter 14: Concluding Remarks

Ernesto Zedillo