In this paper, we examine the relationship between CO2 and SO2 (including carbonaceous aerosols) mitigations in a framework of correlated global and local externalities. The framework is set up in a revised RICE model [Nordhaus, WD and Z Yang (1996). A regional dynamic general-equilibrium model...

This article explores extraction profiles in the Stackelberg equilibrium of exhaustible resource industry. Calibrated with real data of world petroleum market, the Stackelberg and Cournot–Nash equilibriums are solved numerically. The properties of the Stackelberg equilibrium are compared and...

This paper examines the relationship between the rateof time preference and strategic reactions in dealing with climate change caused by anthropogenic greenhouse gas (GHG) emissions. Treating climate change as stock externalities, the RICE model (Nordhaus and Yang [1996]) is employed in this...

The impact of climate change is widespread, affecting rich and poor countries and economies both large and small. Similarly, the study of climate change spans many disciplines, in both natural and social sciences. In environmental economics, leading methodologies include integrated assessment...

Policies under consideration within the Climate Convention would impose CO2 controls on only a subset of nations. A model of economic growth and emissions, coupled to an analysis of the climate system, is used to explore the consequences of a sample proposal of this type. The results show how...