The Climate Cost Conspiracy: The Overstated Economic Damages From Global Warming
by Dr. Matthew Wielicki 37 mins ago
The non-peer-reviewed recent paper claiming that global temperature increases drastically harm economic activity is a prime example of the climate industrial complex inflating costs. [emphasis, links added]
The assertion that a 1°C rise in global temperature could lower world GDP by 12% at its peak starkly contrasts with empirical data suggesting a reduction of merely 1-3%.
This article critically examines the methodology and conclusions of the paper, arguing that the authors are overstating the economic damages while ignoring their own clear evidence that warmer temperatures have recently boosted global GDP.
The authors rely on a time-series local projection approach to estimate the impact of global temperature shocks on GDP. This method is fraught with issues.
https://climatechangedispatch.com/the-climate-cost-conspiracy-the-overstated-economic-damages-from-global-warming/
