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Alternative Policies and Sea-Level Rise in the RICE-2009 Model

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Abstract

The present study extends earlier research by presenting the results of a new and updated version of the RICE model (Regional Integrated model of Climate and the Economy), labeled the RICE-2009 model. The model is a regionalized, dynamic model that incorporates an end-to-end treatment of economic growth, emissions, climate change, damages, and emissions controls. The model allows projections of what will occur with no policies, with efficient policies be, how nations can undertake policies to limit climate change (in the current runs to 2 degrees C), and the impacts of limited participation. These new estimates indicate that coordinated international policies have a substantial economic benefit. The optimal carbon tax is estimated to be $29 per ton carbon ($8 per ton CO_2) for 2010 in 2005 prices. The economic optimum would limit global temperature rise to an average of 2.5 degrees C over 1900 levels for the 22nd and 23rd century.

Suggested Citation

  • William D. Nordhaus, 2009. "Alternative Policies and Sea-Level Rise in the RICE-2009 Model," Cowles Foundation Discussion Papers 1716, Cowles Foundation for Research in Economics, Yale University, revised Aug 2009.
    • Handle: RePEc:cwl:cwldpp:1716
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    File URL: https://cowles.yale.edu/sites/default/files/files/pub/d17/d1716.pdf
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    1. -, 2009. "The economics of climate change," Sede Subregional de la CEPAL para el Caribe (Estudios e Investigaciones) 38679, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
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    1. An update from Nordhaus
      by John Whitehead in Environmental Economics on 2009-09-07 19:21:42

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    More about this item

    Keywords

    Climate change economics; Environmental policy; Economic growth;
    All these keywords.

    JEL classification:

    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming
    • Q5 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics
    • O4 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity

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