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Economic Impact Assessment of Climate Change: A Multi-Gas Investigation with WIAGEM-GTAPEL-ICM

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Author Info
Claudia Kemfert
Truong P. Truong
Thomas Bruckner

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Abstract

Climate change is a long-term issue due to the long lifespan of greenhouse gases and the delayed response of the climate system. This paper investigates the long-term economic consequences of both climate change impacts and mitigation efforts by applying the multi-regional, multi-sectoral integrated assessment model WIAGEM based on GTAP-EL coupled with the reduced-form multi-gas climate model ICM. We investigate emissions reduction paths to reach a radiative forcing target of 4.5 w /m^2. Economic impacts are studied and compared with and without the inclusion of all GHG gases. We find that multi-gas emissions reduction causes less economic losses compared with a case where only CO2 emissions reductions would be considered.

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Paper provided by DIW Berlin, German Institute for Economic Research in its series Discussion Papers of DIW Berlin with number 499.

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Length: 26 p.
Date of creation: 2005
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Publication status: Published in: The Energy Journal 27 (2006), Special Issue 1, S. 57-107
Handle: RePEc:diw:diwwpp:dp499

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Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

  1. Mary Gregory & Miriam Beblo & Wiemer Salverda & Ioannis Theodossiou, 2009. "Introduction," Oxford Economic Papers, Oxford University Press, vol. 61(suppl_1), pages i1-i10, April. [Downloadable!] (restricted)
  2. Burniaux, Jean-Marc & Truong Truong, 2002. "GTAP-E: An Energy-Environmental Version of the GTAP Model," GTAP Technical Papers 923, Center for Global Trade Analysis, Department of Agricultural Economics, Purdue University. [Downloadable!]
  3. Babiker, Mustafa & Reilly, John M. & Jacoby, Henry D., 2000. "The Kyoto Protocol and developing countries," Energy Policy, Elsevier, vol. 28(8), pages 525-536, July. [Downloadable!] (restricted)
  4. Paul M. Bernstein & W. David Montgomery & Thomas F. Rutherford & Gui-Fang Yang, 1999. "Effects of Restrictions on International Permit Trading: The MS-MRT Model," The Energy Journal, International Association for Energy Economics, vol. 20(Special I), pages 221-256.
  5. McKibbin, Warwick J. & Shackleton, Robert & Wilcoxen, Peter J., 1999. "What to expect from an international system of tradable permits for carbon emissions," Resource and Energy Economics, Elsevier, vol. 21(3-4), pages 319-346, August. [Downloadable!] (restricted)
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  6. Zhang, ZhongXiang, 2001. "The liability rules under international GHG emissions trading," Energy Policy, Elsevier, vol. 29(7), pages 501-508, June. [Downloadable!] (restricted)
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  1. Truong P. Truong & Claudia Kemfert, 2005. "A Flexible Global Warming Index for Use in an Integrated Approach to Climate Change Assessment," Discussion Papers of DIW Berlin 529, DIW Berlin, German Institute for Economic Research. [Downloadable!]
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