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Did the Stern Review underestimate U.S. and global climate damages?
This research paper by the Stockholm Environment Institute evaluates whether the Stern Review underestimated climate damages for the United States and the world. By revising parameters in the PAGE2002 model—specifically regarding adaptation, catastrophic risk, and the damage function—the authors argue that business-as-usual damages in 2100 could be significantly higher than the Stern Review's estimates, rising from 2.2 percent of global GDP to 10.8 percent.
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Document type: Research paper
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