Economic Growth Assumptions in Climate and Energy Policy

Krakauer, Nir Y.

doi:10.3390/su6031448

Cited by 8 publications

(6 citation statements)

References 60 publications

(61 reference statements)

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“…This slowdown implies that future generations will be less able to invest in emissions control or adapt to the detrimental impacts of climate change (Krakauer, 2014;Wagner and Weitzman, 2015). Therefore, the possibility of a long-term economic slowdown due to lack of abating climate change heightens the urgency of reducing GHGs by investing in lowcarbon technologies; see Xu et al (2014) for innovative approaches towards low-carbon economics.…”

Section: Discussionmentioning

confidence: 99%

“…The average annual growth rates (AAGRs) of per capita GDP between 1990 and 2100, are given in our model by Nordhaus, 2007;Stern, 2007;Van Vuuren et al, 2012;Krakauer, 2014;Bréchet et al, 2015). Now, according to the United Nations Framework Convention on Climate Change (UNFCCC, 2009(UNFCCC, , 2015, the average global SAT should not exceed its pre industrial level by more than 2 o C; see also Akaev (2015) and Kuckshinrichs and Hake (2015, pp.…”

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confidence: 99%

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Coupled Climate–Economy–Biosphere (CoCEB) model – Part 1: Abatement efficacy of low-carbon technologies

Ogutu

D’Andrea

Ghil

et al. 2017

Preprint

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Abstract. In the present Part 1 of a two-part paper, we formulate and study a simple Coupled Climate-Economy-Biosphere 15 (CoCEB) model. This highly idealized model constitutes the basis of our integrated assessment approach to understanding the various feedbacks involved in the system. CoCEB is composed of a physical climate module, based on Earth's energy balance, and an economy module that uses endogenous economic growth with physical and human capital accumulation. We concentrate on the interactions between the two subsystems: the effect of climate on the economy, via damage functions, and the effect of the economy on climate, via control of greenhouse gas emissions. Simple functional forms of the relation 20 between the two subsystems permit simple interpretations of the coupled effects. The CoCEB model is used to evaluate hypotheses on the long-term effect of investment in emission abatement, and on the comparative efficacy of different approaches to abatement. In this paper, we consider investments in low-carbon technologies. Carbon capture and storage (CCS), along with deforestation reduction, will be dealt with in Part 2. The CoCEB model is highly flexible and transparent; as such, it allows one to easily formulate and compare different functional representations of climate change mitigation 25 policies. Using different mitigation measures and their cost estimates, as found in the literature, one is able to compare these measures in a coherent way. While many studies in the climate-economic literature treat abatement costs merely as an unproductive loss of income, this paper shows that mitigation costs do slow down economic growth over the next few decades, but only up to the mid-21st century or even earlier; growth reduction is compensated later on by having avoided negative impacts of climate change on the economy.

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Section: Discussionmentioning

confidence: 99%

mentioning

confidence: 99%

Coupled Climate–Economy–Biosphere (CoCEB) model – Part 1: Abatement efficacy of low-carbon technologies

Ogutu

D’Andrea

Ghil

et al. 2017

Preprint

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“…Most studies are analyses of statistical inferences of countries or a country studied in isolation. There are many studies covering various economies [28][29][30][31][32][33][34], for example [35][36][37][38]. Ref.…”

Section: Discussionmentioning

confidence: 99%

Renewable Energy, Economic Growth and Economic Development Nexus: A Bibliometric Analysis

Oliveira

Moutinho

2021

Energies

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The present research aims to conduct a systemic review on Renewable Energy, Economic Growth and Economic Development and look for links between the papers published between 2008 and May 2021. Using the Preferred Reporting Items for Systematic Reviews and Meta-Analyses (PRISMA) methodology, it was possible to reach a sample of 111 articles selected by Web of Science and a sample of 199 academic articles selected by Scopus in that specific period. The analysis of the group of Renewable and Non-renewable Energy Consumption, Economic Growth and Economic Development shows that most of the articles published in this subsample use the quantitative methodology in economic sciences. The results indicate that research on the subject has a growing trend and that most of the articles are post-2015 publications. In addition, China has been the leading nation in published works. The journal Renewable and Sustainable Energy Reviews is considered the most relevant in this category, and Sustainability has the most publications. Finally, a research gap was identified to be explored, lacking studies aimed at understanding the consumption of renewable energies and economic development and studies that focus on renewable energies and economic growth in less developed economies.

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“…Paltsev et al (2005)). Nevertheless we consider annual growth rates (in real dollars) ranging between 0.012 -0.036, which is a larger range than in IPCC's Special Report on Emissions Scenarios (SRES) (Krakauer (2014)). Generally there is a tendency even among experts to underestimate uncertainty (Morgan and Henrion (1990)), and we included a wide range of long-term growth rates in our calculations.…”

Section: Parameter Estimates and Scenariosmentioning

confidence: 99%

Economics of limiting cumulative CO2 emissions

Seshadri¹

2017

Preprint

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Global warming from carbon dioxide (CO 2 ) is known to depend on cumulative CO 2 emissions. We introduce a model of global expenditures on limiting cumulative CO 2 emissions, taking into account effects of decarbonization and rising global income and making an approximation to the marginal abatement costs (MAC) of CO 2 . Discounted mitigation expenditures are shown to be a convex function of cumulative CO 2 emissions. We also consider minimum-expenditure solutions for meeting cumulative emissions goals, using a regularized variational method yielding an initial value problem in the integrated decarbonization rate. A quasi-stationary solution to this problem can be obtained for a special case, yielding decarbonization rate that is proportional to annual CO2 emissions. Minimum-expenditure trajectories in scenarios where CO 2 emissions decrease must begin with rapid decarbonization at rate decreasing with time. Due to the shape of global MAC the fraction of global income spent on CO 2 mitigation ("burden") generally increases with time, as cheaper avenues for mitigation are exhausted. Therefore failure to rapidly decarbonize early on reduces expenditures by a small fraction (on the order of 0.01 %) of income in the present, but leads to much higher burden to future generations (on the order of 1 % of income).

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Economic Growth Assumptions in Climate and Energy Policy

Cited by 8 publications

References 60 publications

Coupled Climate–Economy–Biosphere (CoCEB) model – Part 1: Abatement efficacy of low-carbon technologies

Coupled Climate–Economy–Biosphere (CoCEB) model – Part 1: Abatement efficacy of low-carbon technologies

Renewable Energy, Economic Growth and Economic Development Nexus: A Bibliometric Analysis

Economics of limiting cumulative CO2 emissions

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