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Optimal carbon abatement in a stochastic equilibrium model with climate change

Hambel, Christoph; Kraft, Holger; Schwartz, Eduardo S. - 2015

This paper studies a dynamic stochastic general equilibrium model involving climate change. Our model allows for damages on economic growth resulting from global warming. In the calibration, we capture effects from climate change and feedback effects on the temperature dynamics. We solve for the...

Persistent link: https://www.econbiz.de/10010495010

The 'Doomsday' Effect in Climate Policies : Why is the Present Decade so Crucial to Tackling the Climate Challenge?

Perrissin Fabert, Baptiste - 2012

Despite growing scientific evidence that passing a 2°C temperature increase may trigger tipping points in climate dynamics, most Integrated Assessment Models (IAM) based on Cost Benefit Analysis (CBA) with smooth quadratic damage functions are unable to account for the possibility of strong...

Persistent link: https://www.econbiz.de/10013099441

Spatial Climate-Economic Models in the Design of Optimal Climate Policies across Locations

Brock, William A. - 2012

We couple a one-dimensional energy balance climate model with heat transportation across latitudes, with an economic growth model. We derive temperature and damage distributions across locations and optimal taxes on fossil fuels which, in contrast to zero-dimensional Integrated Assessment...

Persistent link: https://www.econbiz.de/10013107899

Climate Policies : A Burden or a Gain?

Bréchet, Thierry - 2013

That climate policies are costly is evident and therefore often creates major fears. But the alternative (no action) also has a cost. Mitigation costs and damages incurred depend on what the climate policies are; moreover, they are substitutes. This brings climate policies naturally in the realm...

Persistent link: https://www.econbiz.de/10013084012

Robust Incentives and the Design of a Climate Change Governance Regime

Nemet, Gregory F. - 2015

In building a governance regime to address climate change, should we prioritize the development of global institutions or national ones? This paper adds insight to the issue of how much international coordination on climate governance is optimal by focusing on two neglected characteristics of...

Persistent link: https://www.econbiz.de/10013039106

Demographic Change, Carbon Convergence and Climate Policy

Liu, Weifeng - 2020

Per capita carbon emissions are an important concept in international negotiations of climate policies and also in future projections of aggregate carbon emissions. This paper argues that the convergence studies on per capita carbon emissions in the literature are theoretically biased because...

Persistent link: https://www.econbiz.de/10012836926

Individualism and Climate Change Policies : International Evidence

Vu, Trung V. - 2020

of climate change policies across the world. I postulate that individualistic societies are endowed with a better … tested using data for a world sample of up to 92 countries. To achieve causal inference, I isolate exogenous sources of … for unobserved country-specific factors, I perform subnational analyses using data from the World Values Survey. The …

Persistent link: https://www.econbiz.de/10012840385

Modeling Myths : On the Need for Dynamic Realism in DICE and other Equilibrium Models of Global Climate Mitigation

Grubb, Michael - 2020

We analyze and critique how optimizing Integrated Assessment Models, and specifically the widely-used DICE model, represent abatement costs. Many such models assume temporal independence – abatement costs in one period are not affected by prior abatement. We contrast this with three dimensions...

Persistent link: https://www.econbiz.de/10012841819

Financing Climate Change Policies : A Multi-Phase Integrated Assessment Model for Mitigation and Adaptation

Semmler, Willi - 2019

We present an extended integrated assessment model (IAM) that optimizes climate financing policies over multiple phases of discrete policy action. We build on Semmler et al. (2018) which develops a single-phase model of the optimal allocation of infrastructure expenditure to carbon-neutral...

Persistent link: https://www.econbiz.de/10012896965

To Divest or to Engage? A Case Study of Climate-Change Activism

Chambers, David - 2019

A dilemma faced by an increasing number of investors is whether to boycott environmentally damaging businesses or whether to enter into a dialogue with them. This predicament now has its epicentre in Cambridge, England, where the ancient university faces great pressure from students and staff to...

Persistent link: https://www.econbiz.de/10012861834