Many fear that climate change will have severe effects on the global economy, particularly through the threat to food production and farmers’ earnings. This research suggests that much of the potential harm could be avoided if farmers can switch their crops in response to changing relative yields.
Achieving the right balance between economic growth and the environment is one of the most pressing issues of our time. Questions of interest include the following:
• What are the links between economic growth, trade, and the environment?
• What has been the impact of pollution on morbidity and mortality?
• What are the costs and effectiveness of alternative policies for mitigating both the short-run (pollution) and longer-run (climate change) environmental problems?
• How should policy makers evaluate uncertainty about climate change?