Effects of sea level rise on economy of the United States

Novackova, Monika and Tol, Richard (2017) Effects of sea level rise on economy of the United States. Journal of Environmental Economics and Policy. pp. 1-31. ISSN 2160-6544

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Abstract

We report the first ex post study of the economic impact of sea level rise. We apply two econometric approaches to estimate the past effects of sea level rise on the economy of the USA, viz. Barro type growth regressions adjusted for spatial patterns and a matching estimator. Unit of analysis is 3063 counties of the USA. We fit growth regressions for 13 time periods and we estimated numerous varieties and robustness tests for both growth regressions and matching estimator. Although there is some evidence that sea level rise has a positive effect on economic growth, in most specifications the estimated effects are insignificant. We therefore conclude that there is no stable, significant effect of sea level rise on economic growth. This finding contradicts previous ex ante studies.

Item Type: Article
Schools and Departments: School of Business, Management and Economics > Economics
Subjects: G Geography. Anthropology. Recreation > GE Environmental Sciences
H Social Sciences > HB Economic theory. Demography
Depositing User: Richard Tol
Date Deposited: 25 Aug 2017 09:21
Last Modified: 11 Sep 2017 18:26
URI: http://sro.sussex.ac.uk/id/eprint/69922

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Project NameSussex Project NumberFunderFunder Ref
RISES-AMUnsetCEC DG Research and Innovation603396