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We show that several of the most important economic models of climate change produce climate dynamics inconsistent with … the current crop of models in climate science. First, most economic models exhibit far too long a delay between an impulse … temperature. These inconsistencies affect economic prescriptions to abate CO2 emissions. Controlling for how the economy is …
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The Green Paradox states that, in the absence of a tax on CO2 emissions, subsidizing a renewable backstop such as solar or wind energy brings forward the date at which fossil fuels become exhausted and consequently global warming is aggravated. We shed light on this issue by solving a model of...
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Optimal climate policy is studied in a Ramsey growth model. A developing economy weighs global warming less, hence is …
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