Alternative Policies and Sea-Level Rise in the RICE-2009 Model
AbstractThe present study extends earlier research by presenting the results of a new and updated version of the RICE model (Regional Integrated model of Climate and the Economy), labeled the RICE-2009 model. The model is a regionalized, dynamic model that incorporates an end-to-end treatment of economic growth, emissions, climate change, damages, and emissions controls. The model allows projections of what will occur with no policies, with efficient policies be, how nations can undertake policies to limit climate change (in the current runs to 2 degrees C), and the impacts of limited participation. These new estimates indicate that coordinated international policies have a substantial economic benefit. The optimal carbon tax is estimated to be $29 per ton carbon ($8 per ton CO_2) for 2010 in 2005 prices. The economic optimum would limit global temperature rise to an average of 2.5 degrees C over 1900 levels for the 22nd and 23rd century.
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Bibliographic InfoPaper provided by Cowles Foundation for Research in Economics, Yale University in its series Cowles Foundation Discussion Papers with number 1716.
Length: 23 pages
Date of creation: Aug 2009
Date of revision: Aug 2009
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Postal: Cowles Foundation, Yale University, Box 208281, New Haven, CT 06520-8281 USA
Find related papers by JEL classification:
- Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters
- Q5 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics
- O4 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity
This paper has been announced in the following NEP Reports:
- NEP-ALL-2009-08-08 (All new papers)
- NEP-ENE-2009-08-08 (Energy Economics)
- NEP-ENV-2009-08-08 (Environmental Economics)
- NEP-RES-2009-08-08 (Resource Economics)
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