Rolling Dice For The Future Of The Planet
AbstractIn an influential paper published in Science, Nordhaus employs an integrated climate-economy model to study climate change. He finds that optimizing climate change policy requires low levels of controls on emissions of greenhouse gases. This paper follows his pioneering methodology but challenges his conclusions. Nordhaus's results depend crucially on certain parameters such as the discount rate and the autonomous decline in energy intensity of production. However, choosing a set of different though equally plausible values for these parameters causes the control rate to rise substantially. This translates into a greater level of action for slowing climate change. Copyright 1995 Western Economic Association International.
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Bibliographic InfoArticle provided by Western Economic Association International in its journal Contemporary Economic Policy.
Volume (Year): 13 (1995)
Issue (Month): 3 (07)
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- Roughgarden, Tim & Schneider, Stephen H., 1999. "Climate change policy: quantifying uncertainties for damages and optimal carbon taxes," Energy Policy, Elsevier, vol. 27(7), pages 415-429, July.
- Neumayer, Eric, 1999. "Global warming: discounting is not the issue, but substitutability is," Energy Policy, Elsevier, vol. 27(1), pages 33-43, January.
- Hall, Darwin C., 1998. "Albedo and vegetation demand-side management options for warm climates," Ecological Economics, Elsevier, vol. 24(1), pages 31-45, January.
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