Durand-Lasserve, Olivier; Pierru, Axel; Smeers, Yves - Center for Energy and Environmental Policy Research … - 2011
This paper examines the impact that uncertainty over economic growth may have on global energy transition and CO2 prices. We use a general-equilibrium model derived from MERGE, and define several stochastic scenarios for economic growth. Each scenario is characterized by the likelihood of a...