CBO's projection of the effect of climate change on U.S. economic output / Evan Herrnstadt,Terry Dinan.

Format:

Book

Government document

Author/Creator:

Hernstadt, Evan, author.

Dinan, Terry, author.

Contributor:

United States. Congressional Budget Office, issuing body.

Series:

Working paper series (United States. Congressional Budget Office) ; 2020-06.

Working paper series / Congressional Budget Office ; 2020-06

Language:

English

Subjects (All):

United States. Congressional Budget Office.

United States.

Climatic changes--Economic aspects--United States--Forecasting.

Climatic changes.

Gross domestic product--United States--Forecasting.

Gross domestic product.

Economic forecasting--United States.

Economic forecasting.

Physical Description:

1 online resource (18 pages, 2 unnumbered pages) : color illustrations

polychrome

illustrations

Other Title:

Congressional Budget Office's projection of the effect of climate change on United States economic output

Place of Publication:

Washington, DC : Congressional Budget Office, 2020.

System Details:

text file

Summary:

As part of its long-term economic forecast, the Congressional Budget Office projects the effect of climate change on the growth of U.S. real gross domestic product (GDP). CBO projects that climate change will, on net, reduce average annual real GDP growth by 0.03 percentage points from 2020 to 2050, relative to growth that would occur under the climatic conditions that prevailed at the end of the 20th century. That annual growth differential accumulates to a 1.0 percent reduction in the projected level of real GDP in 2050. Of that 1.0 percent reduction, one-third reflects a continuation of the effect of climate change on real GDP growth in recent years, and two-thirds reflects expected increases in that effect in the future. This paper describes how CBO constructed its projection, how the projected effect should be interpreted, limitations of the analysis, and the central climate-change scenario that CBO used. It also places CBO's projection in context by comparing it with two widely discussed estimates of the net damage to the United States from climate change. Finally, it notes the many sources of uncertainty underlying the projection.

Contents:

Introduction

CBO's projection of the effect of climate change on real GDP

Interpreting the projection

CBO's methodology

CBO's central climate-change scenario

Uncertainty

Estimates of net U.S. damage by two other research teams

Notes:

"September 2020"--Cover.

GPO Cataloging Record Distribution Program (CRDP).

Includes bibliographical references.

Online resource; title from PDF cover page (CBO.gov, viewed September 25, 2020).

OCLC:

1197815416