The current emphasis on carbon taxes as a way of dealing with global warming therefore seems appropriate. But we should certainly not forget the age-old strategy of ‘movement’ as a way of adapting to climate change. Although you may not yet be planning to migrate to Greenland, the policy debate on climate change should start giving greater importance to finding ways of alleviating migratory and trade restrictions. These frictions are fundamental to our understanding of the economic costs of global warming.
Wednesday, January 16, 2013
Klaus Desmet and Esteban Rossi-Hansberg explain at Vox EU: