American Economic Review
ISSN 0002-8282 (Print) | ISSN 1944-7981 (Online)
Economic Effects of an Ocean Acidification Catastrophe
American Economic Review
vol. 106,
no. 5, May 2016
(pp. 615–19)
Abstract
We assess the potential magnitude of the economic effects of an ocean acidification (OA) catastrophe by focusing on marine ecosystem services most likely to be affected. It is scientifically plausible that by 2200 OA could cause a complete collapse of marine capture fisheries, complete destruction of coral reefs, and significant rearrangement of marine ecosystems. Upper-bound values for losses from the first two effects range from 97 to 301 billion 2014 dollars per year (0.09 - 0.28% of current world GDP). We argue that aquaculture output would not be reduced, due to the high potential for adaptation by this young industry.Citation
Colt, Stephen G., and Gunnar P. Knapp. 2016. "Economic Effects of an Ocean Acidification Catastrophe." American Economic Review, 106 (5): 615–19. DOI: 10.1257/aer.p20161105Additional Materials
JEL Classification
- Q22 Renewable Resources and Conservation: Fishery; Aquaculture
- Q25 Renewable Resources and Conservation: Water
- Q54 Climate; Natural Disasters and Their Management; Global Warming
- Q57 Ecological Economics: Ecosystem Services; Biodiversity Conservation; Bioeconomics; Industrial Ecology
- Q58 Environmental Economics: Government Policy