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Economic Impact Assessment of Climate Change: A Multi-Gas Investigation with WIAGEM-GTAPEL-ICM

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Listed:
  • Claudia Kemfert
  • Truong P. Truong
  • Thomas Bruckner

Abstract

Climate change is a long-term issue due to the long lifespan of greenhouse gases and the delayed response of the climate system. This paper investigates the long-term economic consequences of both climate change impacts and mitigation efforts by applying the multi-regional, multi-sectoral integrated assessment model WIAGEM based on GTAP-EL coupled with the reduced-form multi-gas climate model ICM. We investigate emissions reduction paths to reach a radiative forcing target of 4.5 w /m^2. Economic impacts are studied and compared with and without the inclusion of all GHG gases. We find that multi-gas emissions reduction causes less economic losses compared with a case where only CO2 emissions reductions would be considered.

Suggested Citation

  • Claudia Kemfert & Truong P. Truong & Thomas Bruckner, 2005. "Economic Impact Assessment of Climate Change: A Multi-Gas Investigation with WIAGEM-GTAPEL-ICM," Discussion Papers of DIW Berlin 499, DIW Berlin, German Institute for Economic Research.
    • Handle: RePEc:diw:diwwpp:dp499
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    References listed on IDEAS

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    2. Rick Baker & Andrew Barker & Alan Johnston & Michael Kohlhaas, 2008. "The Stern Review: an assessment of its methodology," Staff Working Papers 0801, Productivity Commission, Government of Australia.

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