Sergey Mityakov

Sergey Mityakov is an Assistant Professor at the John E. Walker Department of Economics at Clemson University. He gained his PhD from the University of Chicago Department of Economics. He also holds an MS in Mathematics from Voronezh State University (Voronezh, Russia) and an MA in Economics from New Economic School (Moscow, Russia). His research interests include climate change, development economics and finance. In 2007 Professor Mityakov worked with the BP Economics Team as a consultant on the economics of climate change issues.

Papers Published in World Economics:

How Much Would it Cost to Avoid Climate Change?

This paper summarises various estimates of the costs of mitigation of the adverse impact of climate change. It finds that the differences in the estimated impacts on gross domestic product, consumption, employment, and gasoline, electricity and natural gas prices are driven mainly by the following factors: the time frame of new technology development, the growth potential of existing clean sources of energy, the availability of offsets (domestic, international), and the banking of allowances.
However, its main finding is that, even for more optimistic estimates, the mitigation costs are likely to amount to as much as a 1% drop in consumption, starting today and going into the future, which, as is argued in this paper, constitutes an enormous impact on social welfare. Thus, it is important to carefully assess the costs of global warming to see whether they justify such drastic measures.

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