Authors
Stefano Giglio, Theresa Kuchler, Johannes Stroebel, Olivier Wang
- Acknowledgements & Disclosure
- Stefano Giglio, Theresa Kuchler, Johannes Stroebel and Olivier Wang declare that they have no conflicts of interest to disclose. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.
- DOI
- https://doi.org/10.3386/w32678
- Pages
- 66
- Published in
- United States of America
Table of Contents
- The Production of Ecosystem Services 9
- Ecosystem Service Production: Insights from the Ecology Literature. 10
- Modeling Approach 12
- Substitutability of Species Within a Function 12
- Complementarity across Functions 16
- Biodiversity and Ecosystem Functioning 17
- The Effect of Species Loss on Aggregate Ecosystem Services 17
- Biodiversity Shocks and the Fragility of Ecosystem Services 20
- Implications for Policy Makers and Beyond 26
- Biodiversity and the Economy 28
- Ecosystem Services as a Factor of Production 28
- Economic Activity and the Dynamics of Biodiversity 31
- The role of across-function imbalances in biodiversity 35
- Targeted land use 37
- Summary of Key Implications 38
- Biodiversity and the Economy: Evidence from Asset Prices 38
- Empirical Approach and Testable Model Implications 39
- Data 39
- Empirical Analysis 42
- Conclusion 45
- Empirical Analysis - Further Details 54
- Details on Data Sources and Sample Construction 54
- Robustness Tests 59
- Theoretical Appendix - Proofs 61