Mitigation and Solar Radiation Management in Climate Change Policies
AbstractWe couple a spatially homogeneous energy balance climate model with an economic growth model which incorporates two potential policies against climate change: mitigation, which is the traditional policy, and geoengineering. We analyze the optimal policy mix of geoengineering and mitigation in both a cooperative and a noncooperative framework, in which we study open loop and feedback solutions. Our results suggests that greenhouse gas accumulation is relatively higher when geoengineering policies are undertaken, and that at noncooperative solutions incentives for geoengineering are relative stronger. A disruption of geoengineering efforts at a steady state will cause an upward jump in global temperature.
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Bibliographic InfoPaper provided by Fondazione Eni Enrico Mattei in its series Working Papers with number 2013.41.
Date of creation: May 2013
Date of revision:
Climate Change; Mitigation; Geoengineering; Cooperation; Differential Game; Open Loop - Feedback Nash Equilibrium;
Other versions of this item:
- Vasiliki Manousi & Anastasios Xepapadeas, . "Mitigation and Solar Radiation Management in Climate Change Policies," DEOS Working Papers 1323, Athens University of Economics and Business.
- Q53 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Air Pollution; Water Pollution; Noise; Hazardous Waste; Solid Waste; Recycling
- Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters
This paper has been announced in the following NEP Reports:
- NEP-ALL-2013-06-16 (All new papers)
- NEP-ENE-2013-06-16 (Energy Economics)
- NEP-ENV-2013-06-16 (Environmental Economics)
- NEP-RES-2013-06-16 (Resource Economics)
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