Economic Impact Assessment of Climate Change: A Multi-Gas Investigation with WIAGEM-GTAPEL-ICM
AbstractClimate 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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Bibliographic InfoPaper provided by DIW Berlin, German Institute for Economic Research in its series Discussion Papers of DIW Berlin with number 499.
Length: 26 p.
Date of creation: 2005
Date of revision:
Publication status: Published in: The Energy Journal 27 (2006), Special Issue 1, S. 57-107
Other versions of this item:
- Claudia Kemfert, Truong P. Truong, and Thomas Bruckner, 2006. "Economic Impact Assessment of Climate Change - A Multi-gas Investigation with WIAGEM-GTAPEL-ICM," The Energy Journal, International Association for Energy Economics, vol. 0(Special I), pages 441-460.
- F0 - International Economics - - General
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