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Why Climate Uncertainty Is Not an Argument Against Capital Reallocation

Finbar Curtin and Matthew Burgess’ recent article analyzing the relationship between the climate and economy has been interpreted as a study proving that climate change’s impact on economic growth is weak. Garvin Jabusch argues that this interpretation is wrong. Rather, the article concludes that statistical estimates of this relationship are limited by data and future capital allocation should favor a ‘no-regrets’ approach anchored in observable cost curves and productive capacity.

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November 6-7: Stigler Center-CEPR Political Economy of Finance Conference 2026: Crony Capitalism in 21st Century America (call for papers due June 1)