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New Book Examines Global Warming From Macroeconomic Perspective

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Global warming leads to a number of issues of severe economic impact, and the Oxford Handbook of the Macroeconomics of Global Warming analyzes these issues at length, according to a review from Phys.org. A numbers of world-class authors have come together with this book, and the subject of climate change is addressed from all angles.

Looking at global warming from all angles

Just days before the emergency UN Climate Summit in New York City, a book The Oxford Handbook of the Macroeconomics of Global Warming has been published. The book is edited by Lucas Bernard, City Tech Professor of Business, and Willi Semmler, Henry Arnhold Professor of Economics at The New School for Social Research. The timing of the book just days before important climate summit is almost certainly not coincidental.

The book focuses on the problems faced by developed and developing nations because of global warming, the preventative measures that can be taken them to control it, the policy changes that have been introduced, the efforts that will be made for adaptation and the consequences of global warming. The issues of growth, employment and development are touched upon in the multi-disciplinary approach of the book. The book also sheds light upon the state-of-the-art research being undertaken to deal with this complex problem.

Global warming topics

The first section of the book includes the chapters “Growth and Climate Change,” “Improving Climate Projections to Better Inform Climate Risk Management” and “Economics of Environmental Regime Shifts” by Klaus Keller, Robert Nicholas and Florian Wagener, respectively. Section 2 includes “Mitigation Policy Modeling,” and Climate Change and Inter-Generational Wellbeing,” by Jeffrey D. Sachs. “Technology and Energy Policies” and “Economic Effects of Mitigation and Adaptation,” make up Sections 3 and 4, and cover topics “Climate-Friendly Technological Change for Developing Countries” and to “Macroeconomic Effects of Renewable Energy and Energy Efficiency Policies with a Focus on Germany.”

The last two sections are “International Perspectives” and “Directions in Mitigation Policy Design.” Topics covered in last two sections include “The Stabilization of Earth’s Climate in the 21st Century by the Stabilization of Per Capita Consumption” and “The Need for Sustainable Development and a Carbon Market: Avoiding Extinction.”

“Governments can and must regulate cooperatively. Private industry can and must address the causal factors, and the solutions to mitigate, global warming,” noted Edgar Bronfman, Jr., Executive Chairman, Global Thermostat, in the report.

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