• Graduate program
  • Research
  • News
  • Events
    • Summer School
      • Climate Change
      • Gender in Society
      • Inequalities in Health and Healthcare
      • Business Data Science Summer School Program
      • Receive updates
    • Events Calendar
    • Events Archive
    • Tinbergen Institute Lectures
    • Conference: Consumer Search and Markets
    • Annual Tinbergen Institute Conference
  • Summer School
    • Climate Change
    • Gender in Society
    • Inequalities in Health and Healthcare
    • Business Data Science Summer School Program
    • Receive updates
  • Alumni
  • Magazine
Home | People | Richard Tol
 placeholder

Richard Tol

Research Fellow

University
Vrije Universiteit Amsterdam
Research field
Spatial Economics
Interests
Environmental Economics

Biography

Dr Richard S.J. Tol MAE is a Professor at the Department of Economics, University of Sussex, the Professor of the Economics of Climate Change, Institute for Environmental Studies and Department of Spatial Economics, Vrije Universiteit, Amsterdam, the Netherlands. He has an M.Sc. in econometrics (1992) and a Ph.D. in economics (1997) from the Vrije Universiteit Amsterdam. He is ranked among the top 100 economists in the world and among the top 100 most-cited climate scholars. He has 298 publications in learned journals. He specializes in the economics of energy, environment, and climate. He is the editor-in-chief for Energy Economics. He is the author of the only textbook on the economics of climate change.

Key publications

List of publications

Tol, RichardS.J. (2024). A meta-analysis of the total economic impact of climate change Energy Policy, 185:1--14.

Tol, RichardS.J. (2022). Editorial: 2021 awards Energy Economics, 105:.

Tol, RichardS.J. (2022). 2022 Awards Energy Economics, 115:1--1.

Stern, DavidI. and Tol, RichardS.J. (2021). Depth and breadth relevance in citation metrics Economic Inquiry, 59(3):961--977.

García Alvarez, G. and Tol, RichardS.J. (2021). The impact of the Bono Social de Electricidad on energy poverty in Spain Energy Economics, 103:1--8.

Letta, M. and Tol, RichardS.J. (2019). Weather, Climate and Total Factor Productivity Environmental and Resource Economics, 73:283–305.

Chatzivasileiadis, T., Estrada, F., Hofkes, M.W. and Tol, R.S.J. (2019). Systematic Sensitivity Analysis of the Full Economic Impacts of Sea Level Rise Computational Economics, 53(3):1183--1217.

Tol, RichardS.J. (2019). A social cost of carbon for (almost) every country Energy Economics, 83:555--566.

Hwang, I.C., Tol, RichardS.J. and Hofkes, MarjanW. (2019). Active Learning and Optimal Climate Policy Environmental and Resource Economics, 73(4):1237--1264.

Tol, RichardS.J. (2019). Editorial - Special issue on replication Energy Economics, 82:1--3.

Tol, RichardS.J. (2018). Leaving an emissions trading scheme: Implications for the United Kingdom and the European Union Review of Environmental Economics and Policy, 12(1):183--189.

Letta, M., Montalbano, P. and Tol, RichardS.J. (2018). Temperature shocks, short-term growth and poverty thresholds: Evidence from rural Tanzania World Development, 112:13--32.

Tol, RichardS.J. (2018). Gender at energy economics Energy Economics, 72:558--559.

Tol, RichardS.J. (2018). The economic impacts of climate change Review of Environmental Economics and Policy, 12(1):4--25.

Keerthiratne, S. and Tol, RichardS.J. (2018). Impact of natural disasters on income inequality in Sri Lanka World Development, 105:217--230.

Tol, RichardS.J. (2017). The structure of the climate debate Energy Policy, 104:431--438.

Hwang, I.C., Reynès, F. and Tol, RichardS.J. (2017). The effect of learning on climate policy under fat-tailed risk Resource and Energy Economics, 48:1--18.

Tol, R., Nicholls, R., Brown, S., Hinkel, J., Vafeidis, A. and Spencer, T. (2016). Comment on 'The Global Impacts of Extreme Sea-Level Rise: A Comprehensive Economic Assessment' Environmental and Resource Economics, 64(2):341--344.

Anthoff, D., Estrada, F. and Tol, R. (2016). Shutting down the thermohaline circulation American Economic Review, 106(5):602--606.

Hwang, I., Tol, R. and Hofkes, M. (2016). Fat-tailed risk about climate change and climate policy Energy Policy, 89:25--35.

Tol, R. (2015). Bootstraps for Meta-Analysis with an Application to the Impact of Climate Change Computational Economics, 46(2):287--303.

Tol, RichardS.J. (2014). Correction and update: The economic effects of climate change Journal of Economic Perspectives, 28(2):221--226.

Tol, R. (2014). Quantifying the consensus on anthropogenic global warming in the literature: A re-analysis Energy Policy, 73:701--705.

Arrow, KennethJ., Cropper, MaureenL., Gollier, C., Groom, B., Heal, GeoffreyM., Newell, RichardG., Nordhaus, WilliamD., Pindyck, RobertS., Pizer, WilliamA., Portney, PaulR., Sterner, T., Tol, RichardS.J. and Weitzman, MartinL. (2014). Should governments use a declining discount rate in project analysis? Review of Environmental Economics and Policy, 8(2):145--163.

Tol, RichardS.J. (2014). Quantifying the consensus on anthropogenic global warming in the literature: Rejoinder Energy Policy, 73:709.

Tol, RichardS.J. (2014). Corrigendum to 'Targets for global climate policy: An overview' [J. Econ. Dyn. Control 37 (2013) 911-928] Journal of Economic Dynamics and Control, 42:.

McDermott, T., Barry, F. and Tol, R. (2014). Disasters and development: natural disasters, credit constraints, and economic growth Oxford Economic Papers, 66(3):750--773.

Lynch, M.Á., Shortt, A., Tol, RichardS.J. and O'Malley, MarkJ. (2013). Risk-return incentives in liberalised electricity markets Energy Economics, 40:598--608.

Ang, B.W., Tol, RichardS.J. and Weyant, JohnP. (2013). Editorial: New data policy Energy Economics, 40:.

Driscoll, Á., Lyons, S., Mariuzzo, F. and Tol, RichardS.J. (2013). Simulating demand for electric vehicles using revealed preference data Energy Policy, 62:686--696.

Tol, RichardS.J. (2013). Climate policy with Bentham-Rawls preferences Economics Letters, 118(3):424--428.

Hwang, I., Reynes, F. and Tol, R. (2013). Climate Policy Under Fat-Tailed Risk: An Application of Dice Environmental and Resource Economics, 56(3):415--436.

Callaghan, N. and Tol, R. (2013). UK Tourists, the Great Recession and Irish Tourism Policy Economic and Social Review, 44(1):103--116.

Tol, RichardS.J. (2013). Targets for global climate policy: An overview Journal of Economic Dynamics and Control, 37(5):911--928.

Calzadilla, A., Zhu, T., Rehdanz, K., Tol, R.S.J. and Ringler, C. (2013). Economywide impacts of climate change on agriculture in Sub-Saharan Africa Ecological Economics, 93:150--165.

Hyland, M., Leahy, E. and Tol, R.S.J. (2013). The potential for segmentation of the retail market for electricity in Ireland Energy Policy, 61:349--359.

Anthoff, D. and Tol, RichardS.J. (2012). Climate damages in the FUND model: A comment Ecological Economics, 81:.

Leahy, E., Devitt, C., Lyons, S. and Tol, R. (2012). The cost of natural gas shortages in Ireland Energy Policy, 46:153--169.

Lynch, M., O'Malley, M. and Tol, R. (2012). Optimal interconnection and renewable targets for Northwest Europe Energy Policy, 51:605--612.

Mayor, K., Lyons, S., Duffy, D. and Tol, R. (2012). A hedonic analysis of the value of rail transport in the Greater Dublin Area Journal of Transport Economics and Policy, 46(2):239--261.

Tol, R. (2012). A cost-benefit analysis of the EU 20/20/2020 Package Energy Policy, 49:288--295.

Tol, R. (2012). On the uncertainty about the total economic impact of climate change Environmental and Resource Economics, 53(1):97--116.

Hennessy, H. and Tol, R. (2011). The Impact of Climate Policy on Private Car Ownership in Ireland Economic and Social Review, 42(2):135--158.

Leahy, E., Lyons, S. and Tol, R. (2011). Determinants of Vegetarianism and Partial Vegetarianism in Ireland Economic and Social Review, 42(4):407--436.

Leahy, E. and Tol, R. (2011). An estimate of the value of lost load for Ireland Energy Policy, 39(3):1514--1520.

Hennessy, H. and Tol, R. (2011). The Impact of Tax Reform on New Car Purchases in Ireland Energy Policy, 39(11):7059--7067.

Commins, N., Lyons, S., Schiffbauer, M. and Tol, R. (2011). Climate Policy and Corporate Behaviour Energy Journal, 32(4):51--68.

Tol, R. (2011). The Social Cost of Carbon Annual Review of Resource Economics, 3:419--443.

Ang, B., Tol, R. and Weyant, J. (2011). Editorial Energy Economics, 33(1):1--1.

Leahy, E., Lyons, S. and Tol, R. (2011). The Distributional Effects of Value Added Tax in Ireland Economic and Social Review, 42(2):213--234.

Calzadilla, A., Rehdanz, K. and Tol, R. (2011). Water scarcity and the impact of improved irrigation management: A computable general equilibrium analysis Agricultural Economics, 42(3):305--323.

Bazilian, M., Rogner, H., Howells, M., Hermann, S., Arent, D., Gielen, D., Steduto, P., Mueller, A., Komor, P., Tol, R. and Yumkella, K. (2011). Considering the Energy, Water, and Food Nexus: Towards an Integrated Modelling Approach Energy Policy, 39(12):7896--7906.

Gorecki, P.K., Lyons, S. and Tol, R. (2010). EU climate change policy 2013-2020: Using the clean development mechanism more effectively in the non-EU-ETS sector Energy Policy, 38(11):7466--7475.

Anthoff, D. and Tol, R. (2010). On international equity weights and national decision making on climate change Journal of Environmental Economics and Management, 60(1):14--20.

Osmani, D. and Tol, R. (2010). The case of two self-enforcing international agreements for environmental protection with asymmetric countries Computational Economics, 36(2):93--119.

Tol, RichardS.J. (2009). The feasibility of low concentration targets: An application of FUND Energy Economics, 31(SUPPL. 2):S121--S130.

Kuik, O., Brander, L. and Tol, R. (2009). Marginal abatement costs of greenhouse gas emissions: A meta-analysis Energy Policy, 37(4):1395--1403.

Tol, R. (2009). Intra- and extra-union flexibility in meeting the European union's emission reduction targets Energy Policy, 37(11):4329--4336.

Callan, T., Lyons, S., Scott, S., Tol, RichardS.J. and Verde, S. (2009). The distributional implications of a carbon tax in Ireland Energy Policy, 37(2):407--412.

Böhringer, C., Rutherford, ThomasF. and Tol, RichardS.J. (2009). THE EU 20/20/2020 targets: An overview of the EMF22 assessment Energy Economics, 31(SUPPL. 2):S268--S273.

Anthoff, D. and Tol, R. (2009). The impact of climate change on the balanced growth equivalent: An application of FUND Environmental and Resource Economics, 43(3):351--367.

Tol, R. and Yohe, G. (2009). The stern review: A deconstruction Energy Policy, 37(3):1032--1040.

Tol, R. (2009). Intra-union flexibility of non-ETS emission reduction obligations in the European Union Energy Policy, 37(5):1745--1752.

Osmani, D. and Tol, R. (2009). Toward farsightedly stable international environmental agreements Journal of Public Economic Theory, 11(3):455--492.

Tol, R., Pacala, S. and Socolow, R. (2009). Understanding long-term energy use and carbon dioxide emissions in the USA Journal of Policy Modeling, 31(3):425--445.

Tol, R. (2009). The economic effects of climate change Journal of Economic Perspectives, 23(2):29--51.

Anthoff, D., Hepburn, C. and Tol, R. (2009). Equity weighting and the marginal damage costs of climate change Ecological Economics, 68(3):836--849.

Zandersen, M. and Tol, R. (2009). A meta-analysis of forest recreation values in Europe Journal of Forest Economics, 15(1-2):109--130.

Bosello, F., Roson, R. and Tol, R. (2008). Economy-wide Estimates of the Implications of Climate Change - A Rejoinder Ecological Economics, 66(1):14--15.

Strzepek, K., Tol, R., Yohe, G. and Rosegrant, M. (2008). The value of the high Aswan Dam to the Egyptian economy Ecological Economics, 66(1):117--126.

Ruane, FrancesP. and Tol, RichardS.J. (2008). Erratum: Centres of research excellence in economics in the Republic of Ireland (Economic and Social Review) Economic and Social Review, 39(1):79--80.

Ruane, F. and Tol, R. (2007). Centres of research excellence in economics in the Republic of Ireland Economic and Social Review, 38:289--322.

Tol, R. (2007). Carbon dioxide emissions scenarios for the USA Energy Policy, 35:5310--5326.

Tol, R. and Weyant, J. (2007). Changes at energy economics Energy Economics, 29(5):1131--1134.

Tol, R., Ebi, K. and Yohe, G. (2007). Infectious disease, development, and climate change, A scenario analysis Environment and Development Economics, 12:687--706.

Tol, R. (2007). Europe’s long term climate target: A critical evaluation Energy Policy, 35(1):424--434.

Bosello, F., Roson, R. and Tol, R. (2007). Economy-wide estimates of the implications of climate change: Sea level rise Environmental and Resource Economics, 37:549--571.

Mayor, K. and Tol, R. (2007). The impact of the UK aviation tax on carbon dioxide emissions and visitor numbers Transport Policy, 14(6):407--513.

O'Doherty, J. and Tol, R. (2007). An environmental input-output model for Ireland Economic and Social Review, 38(2):157--190.

Bosello, F., Roson, R. and Tol, R. (2006). Economy-Wide estimates of the implications of climate change: Human health Ecological Economics, 58:579--591.

Schwoon, M. and Tol, R. (2006). Optimal CO2-abatement with socio-economic inertia and induced technological change Energy Journal, 27(4):25--60.

Rehdanz, K., Tol, R. and Wetzel, P. (2006). Ocean carbon sinks and international climate policy Energy Policy, 34:3516--3526.

Tol, R. (2006). Energy economics 'most influential papers' Energy Economics, 28(4):405--409.

Tol, R. (2005). The marginal damage costs of carbon dioxide emissions: an assessment of the uncertainties Energy Policy, 33(16):2064--2074.

Tol, R. (2005). Emission abatement versus development as strategies to reduce vulnerability to climate change: An application of FUND’ Environment and Development Economics, 10:615--629.

Rehdanz, K. and Tol, R. (2005). Unilateral regulation of bilateral trade in greenhouse gas emission permits Ecological Economics, 54:397--416.

Frankhauser, S. and Tol, R. (2005). On climate change and economic growth Resource and Energy Economics, 27:1--17.

Tol, R. and Weyant, J. (2005). Energy economics Energy Economics, 27(4):551--552.

Tol, R. (2004). On dual-rate discounting Economic Modelling, 21(1):95--98.

Kemfert, C., Lise, W. and Tol, R. (2004). Games of climate change with international trade Environmental and Resource Economics, 28:209--232.

Link, P. and Tol, R. (2004). Possible economic impacts of a shutdown of the thermohaline circulation: an application of FUND Portuguese Economic Journal, 3:99--114.

Tol, R. and Verheyen, R. (2004). State responsibility and compensation for climate change damages: A legal and economic assessment Energy Policy, 32(9):1109--1130.

Tol, R. (2002). New estimates of the damage costs of climate change, Part II: dynamic estimates Environmental and Resource Economics, 21(1):135--160.

Tol, RichardS.J. (2002). The Impact of Climate Change on the United States Economy Environment and Development Economics, 7(3):593--601.

Tol, R. (2002). Review of 'the impacts of climate change on the united states economy' Environment and Development Economics, 7(3):600--601.

Tol, R. (2002). Fearnside's unified index for time preference: a comment Ecological Economics, 41:33--34.

Tol, R. (2002). New estimates of the damage costs of climate change, Part I: benchmark estimates Environmental and Resource Economics, 21(1):47--73.

Tol, R. (2002). Welfare specification and optimal control of climate change: an application of fund Energy Economics, 24(4):367--376.

Tol, R. (2001). Climate coalitions in an integrated assessment model Computational Economics, 18:159--172.

van der Veeren, R.J.H.M. and Tol, R. (2001). Benefits of a reallocation of nitrate emission reductions in the Rhine river basin Environmental and Resource Economics, 18(1):19--41.

Darwin, R. and Tol, R. (2001). Estimates of the economic effects of sea level rise Environmental and Resource Economics, 19(2):113--129.

Tol, R. (2001). Equitable cost-benefit analysis of climate change Ecological Economics, 36(1):71--85.

Duraiappah, A. and Tol, R. (2001). Introduction Computational Economics, 18(2):137--139.

Tol, R. (2000). Mathematical modeling in economics, ecology and the environment Economic Journal, :.

Fankhauser, S., Smith, J. and Tol, R. (1999). Weathering Climate Change: Some Simple Rules to Guide Adaptation Decisions Ecological Economics, 30:67--78.

Tol, R. (1999). The Marginal Costs of Greenhouse Gas Emissions Energy Journal, 20(1):61--81.

Tol, R. (1999). Review of 'The Environmental Consequences of Growth: Steady-State Economics as an Alternative to Ecological Decline [Review of: D.E. Booth (1999) Review of 'The Environmental Consequences of Growth: Steady-State Economics as an Alternative to Ecological Decline] Economic Journal, 109(453):F247--F252.

Tol, R. (1999). Spatial and Temporal Efficiency in Climate Policy: Applications of FUND Environmental and Resource Economics, 14(1):33--49.

Tol, R. (1999). Kyoto, Efficiency, and Cost-Effectiveness Energy Journal, :130--156.

Tol, R. (1998). Short-Term Decisions under Long-Term Uncertainty Energy Economics, 20:557--569.

Tol, R. (1998). On the Difference in Impact between Two Almost Identical Climate Scenarios Energy Policy, 26(1):13--20.

Fankhauser, S., Tol, R. and Pearce, D. (1998). Extensions and Alternatives to Climate Change Impact Valuation: On the Critique on IPCC WG3's Impact Estimates Environment and Development Economics, 3:59--81.

Tol, R. (1998). Climate Change and Insurance: A Critical Appraisal Energy Policy, 26(3):257--262.

Fankhauser, S., Tol, R. and Pearce, D. (1997). The Aggregation of Climate Change Damages: A Welfare Theoretic Approach Environmental and Resource Economics, 10:249--266.

Tol, R. (1997). -- [Review of: S. Fankhauser. Valuing Climate Change: The Economics of the Greenhouse] Economic Journal, 107(444):1586--1588.

Tol, RichardS.J. (1996). The damage costs of climate change towards a dynamic representation Ecological Economics, 19(1):67--90.

Fankhauser, S. and Tol, RichardS.J. (1996). Climate change costs: Recent advancements in the economic assessment Energy Policy, 24(7 SPEC. ISS.):665--673.

Heintz, RoebyemJ. and Tol, R.S. (1995). Joint implementation and uniform mixing Energy Policy, 23(10):911--917.

Richard, S.J.Tol (1995). The damage costs of climate change toward more comprehensive calculations Environmental and Resource Economics, 5(4):353--374.

Tol, RichardS.J. (1994). The damage costs of climate change: a note on tangibles and intangibles, applied to DICE Energy Policy, 22(5):436--438.