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We present a modification of the most commonly used integrated assessment model (IAM) of climate change (DICE-2016), AD-DICE … include more state (seven) and control variables (four) than recursive derivatives of DICE. Our approach to uncertainty …
Persistent link: https://www.econbiz.de/10012606245
Anthropogenic greenhouse gas emissions are changing the energy balance of our planet. Various climatic feedbacks make the resulting warming over the next decades and centuries highly uncertain. We quantify how this uncertainty changes the optimal carbon tax in a stochastic dynamic programming...
Persistent link: https://www.econbiz.de/10012657902
integrated climate–economy (DICE) integrated assessment model using two different climate-carbon cycle sub-models: first, the … original DICE implementation, and second an implementation of the finite amplitude impulse response (FaIR) simple climate model … version of DICE implies that the additional future temperature change after a cessation of a given CO2 emission scenario is …
Persistent link: https://www.econbiz.de/10012796017
We explore how optimal emission abatement trajectories are affected by dynamic characteristics of greenhouse-gas emitting systems, such as inertia, induced innovation, and pathdependency, by formulating a compact and analytically tractable model with stylized damage assumptions to derive the...
Persistent link: https://www.econbiz.de/10014469874
stronger near-term abatement. This paper re-examines this result with a DICE model that is fully coupled with a thermohaline …
Persistent link: https://www.econbiz.de/10010398676
". We numerically illustrate our results in DICE and find that the social cost of carbon increases over-proportionally with …
Persistent link: https://www.econbiz.de/10012502183
We introduce a “smart” cap and trade system that eliminates the welfare costs of asymmetric information (“uncertainty”). This cap responds endogenously to technology or macroeconomic shocks, relying on the market price of certificates to aggregate information. It allows policy makers to...
Persistent link: https://www.econbiz.de/10012581980
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