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WITCH is an energy-economy-climate model developed by the climate change group at FEEM. The model has been extensively used in the past 3 years for the economic analysis of climate change policies. WITCH is a hybrid top-down economic model with a representation of the energy sector of medium...
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assumptions concerning the pure rate of time preference, the social welfare aggregator and the extent of climate damages. We focus …
Persistent link: https://www.econbiz.de/10009419726
In the present paper we use the output of multiple expert elicitation surveys on the future cost of key low-carbon technologies and use it as input of three Integrated Assessment models, GCAM, MARKAL_US and WITCH. By means of a large set of simulations we aim to assess the implications of these...
Persistent link: https://www.econbiz.de/10011438620
reduction in current consumption that produces a loss in social welfare equivalent to that caused by the emission of a ton of CO …2. The standard approach is to calculate the SCC using a discounted-utilitarian social welfare function (SWF)-one that … welfare economics, but has been, thus far, little used in climate scholarship. The core idea is to give greater weight to well …
Persistent link: https://www.econbiz.de/10011547506
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The availability of technology plays a major role in the feasibility and costs of climate policy. Nonetheless, technological change is highly uncertain and capital intensive, requiring risky efforts in research and development of clean energy technologies. In this paper, we introduce a two-track...
Persistent link: https://www.econbiz.de/10011622101