@article{KalkuhlWenz2020,
  author    = {Kalkuhl, Matthias and Wenz, Leonie},
  title     = {The impact of climate conditions on economic production},
  series = {Journal of Environmental Economics and Management},
  volume    = {103},
  journal   = {Journal of Environmental Economics and Management},
  publisher = {Elsevier},
  address   = {San Diego},
  issn      = {0095-0696},
  doi       = {10.1016/j.jeem.2020.102360},
  pages     = {20},
  year      = {2020},
  abstract  = {We present a novel data set of subnational economic output, Gross Regional Product (GRP), for more than 1500 regions in 77 countries that allows us to empirically estimate historic climate impacts at different time scales. Employing annual panel models, long-difference regressions and cross-sectional regressions, we identify effects on productivity levels and productivity growth. We do not find evidence for permanent growth rate impacts but we find robust evidence that temperature affects productivity levels considerably. An increase in global mean surface temperature by about 3.5°C until the end of the century would reduce global output by 7-14\% in 2100, with even higher damages in tropical and poor regions. Updating the DICE damage function with our estimates suggests that the social cost of carbon from temperature-induced productivity losses is on the order of 73-142\$/tCO2 in 2020, rising to 92-181\$/tCO2 in 2030. These numbers exclude non-market damages and damages from extreme weather events or sea-level rise.},
  language  = {en}
}
@article{SchultesPiontekSoergeletal.2021,
  author    = {Schultes, Anselm and Piontek, Franziska and Soergel, Bjoern and Rogelj, Joeri and Baumstark, Lavinia and Kriegler, Elmar and Edenhofer, Ottmar and Luderer, Gunnar},
  title     = {Economic damages from on-going climate change imply deeper near-term emission cuts},
  series = {Environmental research letters},
  volume    = {16},
  journal   = {Environmental research letters},
  number    = {10},
  publisher = {IOP Publishing},
  address   = {Bristol},
  issn      = {1748-9326},
  doi       = {10.1088/1748-9326/ac27ce},
  pages     = {11},
  year      = {2021},
  abstract  = {Pathways toward limiting global warming to well below 2 ∘C, as used by the IPCC in the Fifth Assessment Report, do not consider the climate impacts already occurring below 2 ∘C. Here we show that accounting for such damages significantly increases the near-term ambition of transformation pathways. We use econometric estimates of climate damages on GDP growth and explicitly model the uncertainty in the persistence time of damages. The Integrated Assessment Model we use includes the climate system and mitigation technology detail required to derive near-term policies. We find an optimal carbon price of \$115 per tonne of CO2 in 2030. The long-term persistence of damages, while highly uncertain, is a main driver of the near-term carbon price. Accounting for damages on economic growth increases the gap between the currently pledged nationally determined contributions and the welfare-optimal 2030 emissions by two thirds, compared to pathways considering the 2 ∘C limit only.},
  language  = {en}
}