Energy balance climate models and general equilibrium optimal mitigation policies

Brock, William A.; Engström, Gustav; Grass, Dieter; Xepapadeas, Anastasios

doi:10.1016/j.jedc.2013.09.008

Cited by 25 publications

(29 citation statements)

References 60 publications

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“…We also substantially extend the work of Brock et al (2013Brock et al ( , 2014 which, for the …rst time to our knowledge, introduced into an one-dimensional EBM the anthropogenic in ‡uence on local temperature resulting from the accumulation of carbon in the atmosphere and conducted economic optimization analysis in this type of model. Let x denote the sine of the latitude.…”

Section: Temperature Dynamics and Heat Transportmentioning

confidence: 89%

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Spatial Heat Transport, Polar Amplification and Climate Change Policy

Brock

Xepapadeas

2016

SSRN Journal

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This paper is, to our knowledge, the …rst paper in climate economics to consider the combination of spatial heat transport and polar ampli…cation.We simpli…ed the problem by stratifying the Earth into latitude belts and assuming, as in North et al. (1981), that the two hemispheres were symmetric. Our results suggest that it is possible to build climate economic models that include the very real climatic phenomena of heat transport and polar ampli…cation and still maintain analytical tractability. We derive optimal fossil fuel paths under heat transport with and without polar ampli…cation.We show that the optimal tax function depends not only on the distribution of welfare weights but also on the distribution of population across latitudes, the distribution of marginal damages across latitudes and cross latitude interactions of marginal damages, and climate dynamics. We also determine optimal taxes per unit of emission and show that, in contrast to the standard results suggesting spatially uniform emission taxes, poorer latitudes should be taxed less per unit emissions than richer latitudes.JEL Classi…cation: Q54, Q58, C61

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Section: Temperature Dynamics and Heat Transportmentioning

confidence: 89%

“…which can be used to approximate the distributions for distributional weights and damages across latitudes (see Brock et al 2013). Following work by e.g.…”

Section: Propositionmentioning

confidence: 99%

Spatial Heat Transport, Polar Amplification and Climate Change Policy

Brock

Xepapadeas

2016

SSRN Journal

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“…For the use of one-dimensional and two-dimensional EBCMs in economic models of climate change see Brock et al 2013Brock et al , 2014. 7 SRM can be regarded as increasing the global albedo, since it blocks incoming radiation.…”

Section: Emissions Srm and The Global Temperaturementioning

confidence: 99%

“…For a discussion of damage functions related to climate change, see Weitzman (2010). 5 A situation can be envisioned in which SRM generates extra bene…ts to a country, in addition to those accruing from a decrease in average global temperature, due for example to favorable change in regional climatic conditions. In this case c i could take negative values.…”

Section: Introductionmentioning

confidence: 99%

Cooperation and Competition in Climate Change Policies: Mitigation and Climate Engineering When Countries are Asymmetric

Manoussi

Xepapadeas

2014

SSRN Journal

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We study a dynamic game of climate policy design in terms of emissions and solar radiation management (SRM) involving two heterogeneous regions or countries. Countries emit greenhouse gasses (GHGs), and can block incoming radiation by unilateral SRM activities, thus reducing global temperature.Heterogeneity is modelled in terms of the social cost of SRM, the environmental damages due to global warming, the productivity of emissions in terms of generating private bene…ts, the rate of impatience, and the private cost of geoengineering. We determine the impact of asymmetry on mitigation and SRM activities, concentration of GHGs, and global temperature, and we examine whether a tradeo¤ actually emerges between mitigation and SRM. Our results could provide some insights into a currently emerging debate regarding mitigation and SRM methods to control climate change, especially since asymmetries seem to play an important role in a¤ecting incentives for cooperation or unilateral actions.

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“…This will allow us to (i) show how substitution possibilities between goods and heterogeneous sectoral impacts from climate change matter for factor allocation decisions across sectors and (ii) explore what the sectoral decomposition and its underlying assumptions imply for aggregate fossil fuel use and distribution across countries and regions over time (see e.g. Brock et al (2013Brock et al ( , 2014). …”

Section: Introductionmentioning

confidence: 99%