Table of Contents

U.S. Market Consequences of Global Climate Change

Foreword ii

Executive Summary iii

I. Introduction 1

II. Analytical Overview  3

III. Details of the Analysis: Climate Scenarios and Damage Estimates  7

IV. Market Effects and the Overall Economy  14

A. Outcomes Under Optimistic Cases  14
B. Outcomes Under Pessimistic Cases  19
C. Welfare Impacts  23
D. Comparing Optimistic and Pessimistic Cases  24
E. The Role of Discounting  26
F. Future Carbon Emissions  28

V. Findings  31

VI. Conclusions  39

References  41

Appendices  45*

A. Modeling of Sector Impacts  45*
B. Description of the Intertemporal General Equilibrium Model (IGEM)  65*

* Found in web version only.