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CRED: A new model of climate and development

Author

Listed:
  • Ackerman, Frank
  • Stanton, Elizabeth A.
  • Bueno, Ramón

Abstract

This paper describes a new model, Climate and Regional Economics of Development (CRED), which is designed to analyze the economics of climate and development choices. Its principal innovations are the treatment of global equity, calculation of the optimum interregional flows of resources, and use of McKinsey marginal abatement cost curves to project the cost of mitigation.

Suggested Citation

  • Ackerman, Frank & Stanton, Elizabeth A. & Bueno, Ramón, 2013. "CRED: A new model of climate and development," Ecological Economics, Elsevier, vol. 85(C), pages 166-176.
  • Handle: RePEc:eee:ecolec:v:85:y:2013:i:c:p:166-176
    DOI: 10.1016/j.ecolecon.2011.04.006
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    References listed on IDEAS

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    1. Klaus Keller & Zili Yang & Matt Hall & David F. Bradford, 2003. "Carbon Dioxide Sequestration: When And How Much?," Working Papers 108, Princeton University, Department of Economics, Center for Economic Policy Studies..
    2. Chichilnisky, Graciela & Heal, Geoffrey, 1994. "Who should abate carbon emissions? : An international viewpoint," Economics Letters, Elsevier, vol. 44(4), pages 443-449, April.
    3. Ackerman, Frank & Stanton, Elizabeth A. & Bueno, Ramón, 2010. "Fat tails, exponents, extreme uncertainty: Simulating catastrophe in DICE," Ecological Economics, Elsevier, vol. 69(8), pages 1657-1665, June.
    4. repec:pri:cepsud:94bradford is not listed on IDEAS
    5. Kristen A. Sheeran, 2006. "Who Should Abate Carbon Emissions? A Note," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 35(2), pages 89-98, October.
    6. Cooter, Robert & Rappoport, Peter, 1984. "Were the Ordinalists Wrong about Welfare Economics?," Journal of Economic Literature, American Economic Association, vol. 22(2), pages 507-530, June.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Christoph Hambel & Holger Kraft & Eduardo Schwartz, 2015. "Optimal Carbon Abatement in a Stochastic Equilibrium Model with Climate Change," NBER Working Papers 21044, National Bureau of Economic Research, Inc.
    2. Hambel, Christoph & Kraft, Holger & Schwartz, Eduardo S., 2015. "Optimal carbon abatement in a stochastic equilibrium model with climate change," SAFE Working Paper Series 92, Research Center SAFE - Sustainable Architecture for Finance in Europe, Goethe University Frankfurt.
    3. Skott, Peter & Davis, Leila, 2013. "Distributional biases in the analysis of climate change," Ecological Economics, Elsevier, vol. 85(C), pages 188-197.
    4. Sylvie Geisendorf, 2016. "The impact of personal beliefs on climate change: the “battle of perspectives” revisited," Journal of Evolutionary Economics, Springer, vol. 26(3), pages 551-580, July.
    5. Subramanyam, Veena & Kumar, Amit & Talaei, Alireza & Mondal, Md. Alam Hossain, 2017. "Energy efficiency improvement opportunities and associated greenhouse gas abatement costs for the residential sector," Energy, Elsevier, vol. 118(C), pages 795-807.
    6. Kemp-Benedict, Eric, 2014. "Shifting to a Green Economy: Lock-in, Path Dependence, and Policy Options," MPRA Paper 60175, University Library of Munich, Germany.
    7. Leila Davis & Peter Skott, 2011. "Positional goods, climate change and the social returns to investment," UMASS Amherst Economics Working Papers 2011-24, University of Massachusetts Amherst, Department of Economics.

    More about this item

    Keywords

    Climate economics; Global equity; Integrated assessment modeling;

    JEL classification:

    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming
    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth
    • O13 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products
    • Q52 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Pollution Control Adoption and Costs; Distributional Effects; Employment Effects

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