We demonstrate a method for integrating environmental effects into a computable general equilibrium model. This is a critical step forward toward the development of improved integrated assessment models of environmental change. We apply the method to examine the economic consequences of air...

CO2 emissions mandates for new light-duty passenger vehicles have recently been adopted in the European Union (EU), which require steady reductions to 95 g CO2/km in 2021. Using a computable general equilibrium (CGE) model, we analyze the impact of the mandates on oil demand, CO2 emissions, and...

In the absence of significant greenhouse gas (GHG) mitigation, many analysts project that atmospheric concentrations of species identified for control in the Kyoto protocol could exceed 1000 ppm (carbon-dioxide-equivalent) by 2100 from the current levels of about 435 ppm. This could lead to...

We consider the large range of estimated costs of meeting U.S. climate policy targets. Some of this range is due to different studies using different cost measures, and in principle such differences could be eliminated by more careful comparisons and greater transparency in studies that estimate...

We discuss a strategy for investigating the impacts of climate change on Earth’s physical, biological and human resources and links to their socio-economic consequences. As examples, we consider effects on agriculture and human health. Progress requires a careful understanding of the chain of...

First steps toward a broad climate agreement, such as the Kyoto Protocol, have focused on less than global geographic coverage. We consider instead a policy that is less comprehensive in term of greenhouse gases (GHGs), including only the non-CO2 GHGs, but is geographically comprehensive....

In 2003 Japan proposed a Climate Change Tax to reduce its CO<Subscript>2</Subscript> emissions to the level required by the Kyoto Protocol. If implemented, the tax would be levied on fossil fuel use and the revenue distributed to encourage the purchase of energy efficient equipment. Analysis using the MIT Emissions...</subscript>