This number was significantly more than the existing estimates that had dominated news and policy discussions.
We explain that existing estimates systematically underestimate the likely economic impact of climate change, and we provide rough estimates of what a more complete accounting would reveal.
Using existing estimates from the literature, Davis and Knittel show that when revenues are returned uniformly, then a gasoline tax is actually more progressive than fuel economy standards.
But existing estimates of the potential economic damages from climate change might understate damages by a factor of five or more.
Now comes a new entry in the effort to specify the value known as "climate sensitivity," and it falls on the low side of the existing estimates.
Researchers who pulled together the biggest database yet of worldwide methane emissions found that, after natural sources were discounted, emissions from gas, oil and coal production were 20-60% greater than existing estimates.
Specifically, a modified wave load model is presented that adjusts existing estimates of wave forces on bridge decks based on insights from the FSI model.
Our satellite-based analysis showed a longer NDVI recovery time than the existing estimates, which indicates a stronger fire effect on ecosystems than previously thought.
To capture this added variation within job titles, we use household level wage data from the March Current Population Survey (CPS), and assumptions based on existing estimates in the literature on within-company and between-company components of wage variance.
The group's estimate of the effect of particulate matter exposure on mortality is about three times larger than existing estimates, suggesting poor air quality is an even bigger problem than currently believed.
Also ignored by existing estimates are the ways in which climate change impacts abroad will spillover into the United States through economic effects, national security, migration and disease, creating additional costs.
