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Greenhouse gases mitigation: global externalities and short-termism

Author

Listed:
  • Di Bartolomeo, Giovanni
  • Minooei Fard, Behnaz
  • Semmler, Willi

Abstract

Policies designed to control greenhouse gases imply domestic tradeoffs and international externalities, which lead to both domestic and international conflicts, influencing their feasibility and implementations. Our paper investigates two quantitative aspects within this debate. We intend to quantify the impact of: (a) the internalization of international externalities; and (b) the damage associated with a short-term view of climate policies. In this respect, we adopt the innovative (in this field) idea of model predictive control to formalize moving-horizon policy strategies and, thus, to build counterfactuals characterized by a different horizon for all policymakers.

Suggested Citation

  • Di Bartolomeo, Giovanni & Minooei Fard, Behnaz & Semmler, Willi, 2023. "Greenhouse gases mitigation: global externalities and short-termism," Environment and Development Economics, Cambridge University Press, vol. 28(3), pages 230-241, June.
    • Handle: RePEc:cup:endeec:v:28:y:2023:i:3:p:230-241_2
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    Cited by:

    1. Braga, Joao Paulo & Chen, Pu & Semmler, Willi, 2025. "Central banks, climate risks, and energy transition—a dynamic macro model and econometric evidence," Macroeconomic Dynamics, Cambridge University Press, vol. 29, pages 1-1, January.
    2. Semmler, Willi & Di Bartolomeo, Giovanni & Minooei Fard, Behnaz & Braga, Joao Paulo, 2022. "Limit pricing and entry game of renewable energy firms into the energy sector," Structural Change and Economic Dynamics, Elsevier, vol. 61(C), pages 179-190.
    3. Behnaz Minooei Fard & Willi Semmler & Giovanni Di Bartolomeo, 2023. "Rare Earth Elements: A game between China and the rest of the world," Working Papers in Public Economics 235, Department of Economics and Law, Sapienza University of Rome.

    More about this item

    JEL classification:

    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming
    • H23 - Public Economics - - Taxation, Subsidies, and Revenue - - - Externalities; Redistributive Effects; Environmental Taxes and Subsidies
    • C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis

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