A Critique of the Stern Report

5 Pages Posted: 20 Jan 2007

See all articles by Robert O. Mendelsohn

Robert O. Mendelsohn

Yale University - School of Forestry & Environmental Studies; Yale University


The recently released Stern Review of the Economics of Climate Change demonstrates, given certain assumptions, that adopting an aggressive near-term policy may be better than never doing anything at all. However, the question policymakers should be asking is how aggressive do policies need to be in the near term. Society needs to weigh a number of alternatives besides the single one considered by the Stern report, namely stabilizing greenhouse gas concentrations at 550 ppm. The risks of climate damages go up with ever-higher stabilization targets, but the mitigation costs fall rapidly. Society needs to settle on the best tradeoff.

Keywords: robert mendelsohn, a critique of the stern report, climate change, greenhouse gases, adaptation, extreme weather, non-market damages, knock-on damages, abatement costs,

JEL Classification: D78, D79, H59, K23, L98, 013, Q32, Q39, Q48

Suggested Citation

Mendelsohn, Robert O., A Critique of the Stern Report. Regulation, Vol 29, No.4, Winter 2006-2007 pp. 42-46, Available at SSRN: https://ssrn.com/abstract=956699

Robert O. Mendelsohn (Contact Author)

Yale University - School of Forestry & Environmental Studies ( email )

195 Prospect Street
New Haven, CT 06511
United States

Yale University ( email )

New Haven, CT 06520
United States
2034325128 (Phone)

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