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Spatial and Temporal Efficiency in Climate Policy: Applications of FUND

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  • Richard Tol

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Abstract

FUND is an integrated assessment model of the interactions between climate and economy. Nine world regions emit greenhouse gases, and suffer damages from climate change. A number of greenhouse gas emission reduction policies are compared, including optimal and cost-effective strategies, strategies with early and late abatement, and strategies with and without international co-operation. The analyses confirm that co-operation matters, resulting in substantially lower costs or higher welfare. The real commitments of policy targets based on an absolute level (e.g., 1990 emissions) are hard to estimate because of the uncertainties in the baseline. Postponing action conflicts with minimising costs and maximising welfare, but so does sharp emission reduction at the short-term as proposed in the Kyoto Protocol. Copyright Kluwer Academic Publishers 1999

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File URL: http://hdl.handle.net/10.1023/A:1008314205375
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Bibliographic Info

Article provided by European Association of Environmental and Resource Economists in its journal Environmental and Resource Economics.

Volume (Year): 14 (1999)
Issue (Month): 1 (July)
Pages: 33-49

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Handle: RePEc:kap:enreec:v:14:y:1999:i:1:p:33-49

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Web page: http://www.springerlink.com/link.asp?id=100263

Related research

Keywords: climate change; emission reduction; efficiency; cost-effectiveness; equity; JEL classification: Q25; Q40;

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References

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  1. Tol, Richard S. J., 1996. "The damage costs of climate change towards a dynamic representation," Ecological Economics, Elsevier, vol. 19(1), pages 67-90, October.
  2. Minh Ha-Duong & Michael Grubb & Jean-Charles Hourcade, 1997. "Influence of socioeconomic inertia and uncertainty on optimal CO2-emission abatement," Post-Print halshs-00002452, HAL.
  3. Rose, Adam & Stevens, Brandt, 1993. "The efficiency and equity of marketable permits for CO2 emissions," Resource and Energy Economics, Elsevier, vol. 15(1), pages 117-146, March.
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Citations

RePEc Biblio mentions

As found on the RePEc Biblio, the curated bibliography for Economics:
  1. > Environmental and Natural Resource Economics > Climate economics > Optimal climate policy
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Cited by:
  1. Massimo Tavoni & Valentina Bosetti & Carlo Carraro, 2009. "Climate Change Mitigation Strategies in Fast-Growing Countries: The Benefits of Early Action," Working Papers 2009.53, Fondazione Eni Enrico Mattei.
  2. Sterner, Thomas & Persson, U. Martin, 2007. "An Even Sterner Review: Introducing Relative Prices into the Discounting Debate," Discussion Papers dp-07-37, Resources For the Future.
  3. Gary W. Yohe & Richard S.J. Tol, 2005. "Infinite Uncertainty, Forgotten Feedbacks, And Cost-Benefit Analysis Of Climate Policy," Working Papers FNU-83, Research unit Sustainability and Global Change, Hamburg University, revised Aug 2005.
  4. Roy Darwin & Richard Tol, 2001. "Estimates of the Economic Effects of Sea Level Rise," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 19(2), pages 113-129, June.
  5. Richard S.J. Tol, 2002. "Emission Abatement Versus Development As Strategies To Reduce Vulnerability To Climate Change: An Application Of Fund," Working Papers FNU-12, Research unit Sustainability and Global Change, Hamburg University, revised Apr 2002.
  6. Tol, Richard S. J., 2001. "Equitable cost-benefit analysis of climate change policies," Ecological Economics, Elsevier, vol. 36(1), pages 71-85, January.
  7. Claudia Kemfert & Richard Tol, 2002. "Equity, international trade and climate policy," International Environmental Agreements: Politics, Law and Economics, Springer, vol. 2(1), pages 23-48, March.
  8. Tol, Richard S. J., 2002. "Welfare specifications and optimal control of climate change: an application of fund," Energy Economics, Elsevier, vol. 24(4), pages 367-376, July.
  9. van der Horst, Dan, 2006. "Spatial cost-benefit thinking in multi-functional forestry; towards a framework for spatial targeting of policy interventions," Ecological Economics, Elsevier, vol. 59(1), pages 171-180, August.
  10. Wietze Lise & Richard S.J. Tol, 2000. "Impact of Climate on Tourist Demand," Working Papers FNU-1, Research unit Sustainability and Global Change, Hamburg University, revised Aug 2000.
  11. Bob van der Zwaan & Reyer Gerlagh, 2004. "Climate Uncertainty and the Necessity to Transform Global Energy Supply," Working Papers 2004.95, Fondazione Eni Enrico Mattei.
  12. Richard S.J. Tol & Thomas E. Downing & Samuel Fankhauser & Richard G. Richels & Joel B. Smith, 2001. "Progress In Estimating The Marginal Costs Of Greenhouse Gas Emissions," Working Papers FNU-4, Research unit Sustainability and Global Change, Hamburg University, revised Jan 2001.
  13. Andrea Bigano & Jacqueline M. Hamilton & Richard S.J. Tol, 2008. "Climate Change and Tourism in the Mediterranean," Working Papers FNU-157, Research unit Sustainability and Global Change, Hamburg University, revised Feb 2008.
  14. Greiner, Alfred & Semmler, Willi, 2005. "Economic growth and global warming: A model of multiple equilibria and thresholds," Journal of Economic Behavior & Organization, Elsevier, vol. 57(4), pages 430-447, August.
  15. Richard S.J. Tol & Samuel Fankhauser & Richard G. Richels & Joel B. Smith, 2000. "How Much Damage Will Climate Change Do? Recent Estimates," Working Papers FNU-2, Research unit Sustainability and Global Change, Hamburg University, revised Sep 2000.
  16. Löschel, Andreas, 2001. "Technological change in economic models of environmental policy: a survey," ZEW Discussion Papers 01-62, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.

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