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The stylized model presented in this paper extends the approach developed by Fischer and Newell (2008) by analysing the optimal policy design in a context with more than one externality while taking explicitly into account uncertainty surrounding future emission damage costs. In the presence of...
Persistent link: https://www.econbiz.de/10010426696
The green paradox conveys the idea that climate policies may have unintended side effects when taking into account the reaction of fossil fuel suppliers. In particular, carbon taxes that will be implemented in the future induce resource owners to extract more rapidly which increases present...
Persistent link: https://www.econbiz.de/10010429908
Traditional 'delta-change' approach of scenario generation for climate change impact assessment to water resources strongly depends on the selected base-case observed historical climate conditions that the climate shocks are to be super-imposed. This method disregards the combined effect of...
Persistent link: https://www.econbiz.de/10010404591
We incorporate three important aspects of current climate policy, unilateralism, demand side approach and a climate target, in a multi-country model with flow dependent fossil fuel extraction costs and a backstop. It turns out that the optimal climate coalition should encompass all countries...
Persistent link: https://www.econbiz.de/10010462827
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Motivated by tropical deforestation, we analyze (i) a novel theory of resource extraction, (ii) the optimal …
Persistent link: https://www.econbiz.de/10010515399
Economists have analyzed potential for damages from climate change from theoretical analyses and with Integrated Assessment Models (IAMs). Analytical models typically write damages as a function of the carbon stock, while IAMs typically view damages as based on temperatures. In this paper, we...
Persistent link: https://www.econbiz.de/10010498597
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This paper contributes to the normative literature on mitigation and adaptation by framing the question of their optimal policy balance in the context of catastrophic climate risk. The analysis uses the WITCH integrated assessment model with a module that models the endogenous risk of...
Persistent link: https://www.econbiz.de/10010476445
Persistent link: https://www.econbiz.de/10009738801