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Climate tipping points and solar geoengineering

Author

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  • Heutel, Garth
  • Moreno-Cruz, Juan
  • Shayegh, Soheil

Abstract

We study optimal climate policy in the presence of climate tipping points and solar geoengineering. Solar geoengineering reduces temperatures without reducing greenhouse gas emissions. Climate tipping points are irreversible and uncertain events that can alter the dynamics of the climate system. We analyze three different rules related to the availability of solar geoengineering, and we model three distinct types of tipping points. Before reaching the tipping point, the introduction of solar geoengineering reduces the amount of mitigation, lowers temperatures and increases carbon concentrations. The capacity of solar geoengineering to deal with climate damages depends on the type of tipping point. Solar geoengineering is most effective at dealing with tipping points that affect the responsiveness of temperature to carbon, and it is least effective at dealing with tipping points that cause direct economic losses.

Suggested Citation

  • Heutel, Garth & Moreno-Cruz, Juan & Shayegh, Soheil, 2016. "Climate tipping points and solar geoengineering," Journal of Economic Behavior & Organization, Elsevier, vol. 132(PB), pages 19-45.
  • Handle: RePEc:eee:jeborg:v:132:y:2016:i:pb:p:19-45
    DOI: 10.1016/j.jebo.2016.07.002
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    Cited by:

    1. Johannes Emmerling & Vassiliki Manoussi & Anastasios Xepapadeas, 2016. "Climate Engineering under Deep Uncertainty and Heterogeneity," Working Papers 2016.52, Fondazione Eni Enrico Mattei.
    2. Moreno-Cruz, Juan B. & Wagner, Gernot & Keith, David w., 2017. "An Economic Anatomy of Optimal Climate Policy," Working Paper Series rwp17-028, Harvard University, John F. Kennedy School of Government.
    3. repec:eee:jeeman:v:87:y:2018:i:c:p:24-41 is not listed on IDEAS
    4. Garth Heutel & Juan Moreno-Cruz & Katharine Ricke, 2016. "Climate Engineering Economics," Annual Review of Resource Economics, Annual Reviews, vol. 8(1), pages 99-118, October.
    5. Heutel, Garth & Moreno-Cruz, Juan & Shayegh, Soheil, 2018. "Solar geoengineering, uncertainty, and the price of carbon," Journal of Environmental Economics and Management, Elsevier, vol. 87(C), pages 24-41.
    6. repec:eee:reecon:v:71:y:2017:i:2:p:212-224 is not listed on IDEAS

    More about this item

    Keywords

    Solar geoengineering; Climate tipping points; Climate policy;

    JEL classification:

    • C6 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling
    • D6 - Microeconomics - - Welfare Economics
    • D8 - Microeconomics - - Information, Knowledge, and Uncertainty
    • D9 - Microeconomics - - Micro-Based Behavioral Economics
    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming
    • Q58 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Government Policy

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