Amazing notice to all students ill do my past the rest is up to you poster
accounts for all of that. We find a fairly large negative effect of climate change on agriculture, which amounts to about $9 per ton of CO2, and those are kind of discounted paths. So you emit a ton of CO2 today, that’s the dollar value today of all the future damages that ton of CO2 will have via the agricultural sector. What those numbers represent, the benefits of $2.7 per ton is what is currently represented in the models that calculate the social cost of carbon. So the fact that it’s negative, that indicates that these models were thinking that agriculture on net is going to benefit from climate change. This is largely because a combination of CO2 fertilization and a fair bit of assumption that in most of the world crops are going to benefit from higher temperatures. Now we know that’s more or less not the case. Yeah. This was an exercise I did a couple of years ago with coauthors Tom Hertel and Uris Baldos and Amazing notice to all students ill do my past the rest is up to you posterDelavane Diaz. The idea was that we know now a lot about how climate change affects crop yields. There’s been an awful lot of work on that in economics and agricultural sciences. But that was essentially not represented in the social cost of carbon, where our estimates of climate change damages really came from studies that were either in the late 80s or the early 90s, and really our understanding of how
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