On the eve.
When the hours,
Finally pass,
When the days,
At last are close,
When the winds,
Finally blow,
I shall be at ease.
World economic outlook
The Economics of Climate Change; * Long-term temperature change likely to have negative impact on output * Fiscal pressures as well as revenue opportunities from carbon pricing * Global coordination problem complicated by uncertainty and asymmetric impacts and responsibilities Climate change resulting from man-made increases in atmospheric greenhouse gas concentrations presents a serious challenge to human welfare. Understanding of both the issue and policy responses has developed rapidly in recent years, but much remains to be learned, including the nature, extent, likelihood and timing of the macroeconomic and fiscal effects of climate change and responses to it. The IMF's October 2007 World Economic Outlook (WEO) briefly outlines what is known about the science of climate change, to set the scene for a review of its economic impact. It also discusses adaptation policies, to reduce the damage from climate change, and mitigation policies, to limit the emissio...
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