Switching Economics for Physics and the Carbon Price Inflation: Problems in Integrated Assessment Models and their Implications
Author
Abstract
Suggested Citation
Download full text from publisher
References listed on IDEAS
- John A. Norton & Frank M. Bass, 1987. "A Diffusion Theory Model of Adoption and Substitution for Successive Generations of High-Technology Products," Management Science, INFORMS, vol. 33(9), pages 1069-1086, September.
- Kenneth Gillingham & William D. Nordhaus & David Anthoff & Geoffrey Blanford & Valentina Bosetti & Peter Christensen & Haewon McJeon & John Reilly & Paul Sztorc, 2015.
"Modeling Uncertainty in Climate Change: A Multi-Model Comparison,"
NBER Working Papers
21637, National Bureau of Economic Research, Inc.
- Gillingham, Kenneth & Nordhaus, William & Anthoff, David & Blanford, Geoffrey & Bosetti, Valentina & Christensen, Peter & McJeon, Haewon & Reilly, John & Sztorc, Paul, 2016. "Modeling Uncertainty in Climate Change: A Multi-Model Comparison," Conference papers 332720, Purdue University, Center for Global Trade Analysis, Global Trade Analysis Project.
- Kenneth Gillingham & William Nordhaus & David Anthoff & Geoffrey Blanford & Valentina Bosetti & Peter Christensen & Haewon McJeon & John Reilly & Paul Sztorc, 2015. "Modeling Uncertainty in Climate Change: A Multi-Model Comparison," CESifo Working Paper Series 5538, CESifo.
- Gillingham, Kenneth & Nordhaus, William & Anthoff, David & Bosetti, Valentina & McJeon, Haewon & Blanford, Geoffrey & Christensen, Peter & Reilly, John & Sztorc, Paul, 2016. "Modeling Uncertainty in Climate Change: A Multi-Model Comparison," MITP: Mitigation, Innovation and Transformation Pathways 232219, Fondazione Eni Enrico Mattei (FEEM).
- Kenneth Gillingham & William Nordhaus & David Anthoff & Valentina Bosetti & Haewon McJeon & Geoffrey Blanford & Peter Christensen & John Reilly & Paul Sztorc, 2016. "Modeling Uncertainty in Climate Change: A Multi-Model Comparison," Working Papers 2016.13, Fondazione Eni Enrico Mattei.
- Kenneth Gillingham & William D. Nordhaus & David Anthoff & Geoffrey Blanford & Valentina Bosetti & Peter Christensen & Haewan McJeon & John Reilly & Paul Sztorc, 2015. "Modeling Uncertainty in Climate Change: A Multi-Model Comparison," Cowles Foundation Discussion Papers 2022, Cowles Foundation for Research in Economics, Yale University.
- Ayres, Robert U. & Warr, Benjamin, 2005. "Accounting for growth: the role of physical work," Structural Change and Economic Dynamics, Elsevier, vol. 16(2), pages 181-209, June.
- Ayres, Robert U., 1996. "Limits to the growth paradigm," Ecological Economics, Elsevier, vol. 19(2), pages 117-134, November.
- Edenhofer, Ottmar & Bauer, Nico & Kriegler, Elmar, 2005. "The impact of technological change on climate protection and welfare: Insights from the model MIND," Ecological Economics, Elsevier, vol. 54(2-3), pages 277-292, August.
- Kirman, Alan, 1989. "The Intrinsic Limits of Modern Economic Theory: The Emperor Has No Clothes," Economic Journal, Royal Economic Society, vol. 99(395), pages 126-139, Supplemen.
- Martin L. Weitzman, 2009.
"On Modeling and Interpreting the Economics of Catastrophic Climate Change,"
The Review of Economics and Statistics, MIT Press, vol. 91(1), pages 1-19, February.
- Weitzman, Martin L., 2009. "On Modeling and Interpreting the Economics of Catastrophic Climate Change," Scholarly Articles 3693423, Harvard University Department of Economics.
- Fouquet, Roger, 2010.
"The slow search for solutions: Lessons from historical energy transitions by sector and service,"
Energy Policy, Elsevier, vol. 38(11), pages 6586-6596, November.
- Roger Fouquet, 2010. "The Slow Search for Solutions: Lessons from Historical Energy Transitions by Sector and Service," Working Papers 2010-05, BC3.
- Ackerman, Frank & Stanton, Elizabeth A., 2012.
"Climate risks and carbon prices: Revising the social cost of carbon,"
Economics - The Open-Access, Open-Assessment E-Journal (2007-2020), Kiel Institute for the World Economy (IfW Kiel), vol. 6, pages 1-25.
- Ackerman, Frank & Stanton, Elizabeth A., 2011. "Climate risks and carbon prices: Revising the social cost of carbon," Economics Discussion Papers 2011-40, Kiel Institute for the World Economy (IfW Kiel).
- Chen, Wenying, 2005. "The costs of mitigating carbon emissions in China: findings from China MARKAL-MACRO modeling," Energy Policy, Elsevier, vol. 33(7), pages 885-896, May.
- Richard Tol, 2002. "Estimates of the Damage Costs of Climate Change. Part 1: Benchmark Estimates," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 21(1), pages 47-73, January.
- Cai, Yiyong & Newth, David & Finnigan, John & Gunasekera, Don, 2015. "A hybrid energy-economy model for global integrated assessment of climate change, carbon mitigation and energy transformation," Applied Energy, Elsevier, vol. 148(C), pages 381-395.
- Karp, Larry, 2005.
"Global warming and hyperbolic discounting,"
Journal of Public Economics, Elsevier, vol. 89(2-3), pages 261-282, February.
- Karp, Larry S., 2004. "Global Warming and Hyperbolic Discounting," CUDARE Working Papers 25069, University of California, Berkeley, Department of Agricultural and Resource Economics.
- Karp, Larry, 2004. "Global Warming and Hyperbolic Discounting," Department of Agricultural & Resource Economics, UC Berkeley, Working Paper Series qt5zh730nc, Department of Agricultural & Resource Economics, UC Berkeley.
- Karp, Larry, 2005. "Global warming and hyperbolic discounting," Department of Agricultural & Resource Economics, UC Berkeley, Working Paper Series qt1n62c5cc, Department of Agricultural & Resource Economics, UC Berkeley.
- Grubler, Arnulf & Nakicenovic, Nebojsa & Victor, David G., 1999. "Dynamics of energy technologies and global change," Energy Policy, Elsevier, vol. 27(5), pages 247-280, May.
- Marcotullio, Peter J. & Schulz, Niels B., 2007. "Comparison of Energy Transitions in the United States and Developing and Industrializing Economies," World Development, Elsevier, vol. 35(10), pages 1650-1683, October.
- Ueckerdt, Falko & Brecha, Robert & Luderer, Gunnar & Sullivan, Patrick & Schmid, Eva & Bauer, Nico & Böttger, Diana & Pietzcker, Robert, 2015. "Representing power sector variability and the integration of variable renewables in long-term energy-economy models using residual load duration curves," Energy, Elsevier, vol. 90(P2), pages 1799-1814.
- -, 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).
- Joseph E. Aldy & Scott Barrett & Robert N. Stavins, 2003.
"Thirteen plus one: a comparison of global climate policy architectures,"
Climate Policy, Taylor & Francis Journals, vol. 3(4), pages 373-397, December.
- Joseph E. Aldy & Scott Barrett & Robert N. Stavins, 2003. "Thirteen Plus One: A Comparison of Global Climate Policy Architectures," Working Papers 2003.64, Fondazione Eni Enrico Mattei.
- Aldy, Joseph & Barrett, Scott & Stavins, Robert, 2003. "Thirteen Plus One: A Comparison of Global Climate Policy Architectures," Working Paper Series rwp03-012, Harvard University, John F. Kennedy School of Government.
- Grubler, Arnulf, 2012. "Energy transitions research: Insights and cautionary tales," Energy Policy, Elsevier, vol. 50(C), pages 8-16.
- Béla Nagy & J Doyne Farmer & Quan M Bui & Jessika E Trancik, 2013.
"Statistical Basis for Predicting Technological Progress,"
PLOS ONE, Public Library of Science, vol. 8(2), pages 1-7, February.
- Bela Nagy & J. Doyne Farmer & Quan M. Bui & Jessika E. Trancik, 2012. "Statistical Basis for Predicting Technological Progress," Papers 1207.1463, arXiv.org.
- repec:bla:scandj:v:100:y:1998:i:3:p:575-91 is not listed on IDEAS
- Ayres, Robert U & Ayres, Leslie W & Warr, Benjamin, 2003. "Exergy, power and work in the US economy, 1900–1998," Energy, Elsevier, vol. 28(3), pages 219-273.
- Baker, Erin & Shittu, Ekundayo, 2008. "Uncertainty and endogenous technical change in climate policy models," Energy Economics, Elsevier, vol. 30(6), pages 2817-2828, November.
- Richard S. J. Tol, 2009. "The Economic Effects of Climate Change," Journal of Economic Perspectives, American Economic Association, vol. 23(2), pages 29-51, Spring.
- Hanoch, Giora, 1971. "CRESH Production Functions," Econometrica, Econometric Society, vol. 39(5), pages 695-712, September.
- van den Bergh, Jeroen C. J. M., 2004. "Optimal climate policy is a utopia: from quantitative to qualitative cost-benefit analysis," Ecological Economics, Elsevier, vol. 48(4), pages 385-393, April.
- Ackerman, Frank & Munitz, Charles, 2012. "Climate damages in the FUND model: A disaggregated analysis," Ecological Economics, Elsevier, vol. 77(C), pages 219-224.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Abdulla Kaya & Denes Csala & Sgouris Sgouridis, 2017. "Constant elasticity of substitution functions for energy modeling in general equilibrium integrated assessment models: a critical review and recommendations," Climatic Change, Springer, vol. 145(1), pages 27-40, November.
- van den Bergh, J.C.J.M. & Botzen, W.J.W., 2015. "Monetary valuation of the social cost of CO2 emissions: A critical survey," Ecological Economics, Elsevier, vol. 114(C), pages 33-46.
- Richard S.J. Tol, 2021. "Estimates of the social cost of carbon have not changed over time," Working Paper Series 0821, Department of Economics, University of Sussex Business School.
- Lamperti, F. & Dosi, G. & Napoletano, M. & Roventini, A. & Sapio, A., 2018.
"Faraway, So Close: Coupled Climate and Economic Dynamics in an Agent-based Integrated Assessment Model,"
Ecological Economics, Elsevier, vol. 150(C), pages 315-339.
- Francesco Lamperti & Giovanni Dosi & Mauro Napoletano & Andrea Roventini & Alessandro Sapio, 2017. "Faraway, so Close: Coupled Climate and Economic Dynamics in an Agent-Based Integrated Assessment Model," LEM Papers Series 2017/12, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
- Francesco Lamperti & Giovanni Dosi & Mauro Napoletano & Andrea Roventini & Alessandro Sapio, 2018. "Faraway, So Close: Coupled Climate and Economic Dynamics in an Agent-based Integrated Assessment Model," SciencePo Working papers Main hal-03399637, HAL.
- Francesco Lamperti & Giovanni Dosi & Mauro Napoletano & Andrea Roventini & Alessandro Sapio, 2017. "Faraway, so close : coupled climate and economic dynamics in an agent-based integrated assessment model," SciencePo Working papers Main hal-03458816, HAL.
- Francesco Lamperti & Giovanni Dosi & Mauro Napoletano & Andrea Roventini & Alessandro Sapio, 2017. "Faraway, so close : coupled climate and economic dynamics in an agent-based integrated assessment model," Working Papers hal-03458816, HAL.
- Francesco Lamperti & Giovanni Dosi & Mauro Napoletano & Andrea Roventini & Alessandro Sapio, 2017. "Faraway, so close : coupled climate and economic dynamics in an agent based integrated assessment model," Documents de Travail de l'OFCE 2017-10, Observatoire Francais des Conjonctures Economiques (OFCE).
- Francesco Lamperti & Giovanni Dosi & Mauro Napoletano & Andrea Roventini & Alessandro Sapio, 2018. "Faraway, So Close: Coupled Climate and Economic Dynamics in an Agent-based Integrated Assessment Model," Post-Print hal-03399637, HAL.
- Tol, Richard S.J., 2013.
"Targets for global climate policy: An overview,"
Journal of Economic Dynamics and Control, Elsevier, vol. 37(5), pages 911-928.
- Richard S.J. Tol, 2012. "Targets for Global Climate Policy: An Overview," Working Paper Series 3712, Department of Economics, University of Sussex Business School.
- Richard S. J. Tol, 2021. "Estimates of the social cost of carbon have increased over time," Papers 2105.03656, arXiv.org, revised Aug 2022.
- Richard S J Tol, 2018.
"The Economic Impacts of Climate Change,"
Review of Environmental Economics and Policy, Association of Environmental and Resource Economists, vol. 12(1), pages 4-25.
- Richard S. J. Tol, 2010. "The Economic Impact of Climate Change," Perspektiven der Wirtschaftspolitik, Verein für Socialpolitik, vol. 11(s1), pages 13-37, May.
- Tol, Richard S. J., 2008. "The Economic Impact of Climate Change," Papers WP255, Economic and Social Research Institute (ESRI).
- Richard S. J. Tol, 2015. "Economic impacts of climate change," Working Paper Series 7515, Department of Economics, University of Sussex Business School.
- Howard, Peter & Sterner, Thomas, 2014. "Loaded DICE: Refining the Meta-analysis Approach to Calibrating Climate Damage Functions," 2014 Annual Meeting, July 27-29, 2014, Minneapolis, Minnesota 169952, Agricultural and Applied Economics Association.
- Melissa Dell & Benjamin F. Jones & Benjamin A. Olken, 2014.
"What Do We Learn from the Weather? The New Climate-Economy Literature,"
Journal of Economic Literature, American Economic Association, vol. 52(3), pages 740-798, September.
- Melissa Dell & Benjamin F. Jones & Benjamin A. Olken, 2013. "What Do We Learn from the Weather? The New Climate-Economy Literature," NBER Working Papers 19578, National Bureau of Economic Research, Inc.
- Tol, Richard S.J., 2012.
"A cost–benefit analysis of the EU 20/20/2020 package,"
Energy Policy, Elsevier, vol. 49(C), pages 288-295.
- Tol, Richard S. J., 2011. "A Cost-Benefit Analysis of the EU 20/20/2020 Package," Papers WP367, Economic and Social Research Institute (ESRI).
- Pindyck, Robert S., 2012.
"Uncertain outcomes and climate change policy,"
Journal of Environmental Economics and Management, Elsevier, vol. 63(3), pages 289-303.
- Robert S. Pindyck, 2009. "Uncertain Outcomes and Climate Change Policy," NBER Working Papers 15259, National Bureau of Economic Research, Inc.
- Robert S. Pindyck, 2009. "Uncertain Outcomes and Climate Change Policy," Working Papers 0907, Massachusetts Institute of Technology, Center for Energy and Environmental Policy Research.
- Tol, Richard S. J., 2011.
"Modified Ramsey Discounting for Climate Change,"
Papers
WP368, Economic and Social Research Institute (ESRI).
- Richard S.J. Tol, 2013. "Modified Ramsey Discounting for Climate Change," Tinbergen Institute Discussion Papers 13-130/VIII, Tinbergen Institute.
- Richard S.J. Tol, 2013. "Modified Ramsey Discounting for Climate Change," Working Paper Series 6313, Department of Economics, University of Sussex Business School.
- Richard S. J. Tol, 2015. "Modified Ramsey Discounting for Climate Change," CESifo Working Paper Series 5588, CESifo.
- Tol, Richard S.J., 2024.
"A meta-analysis of the total economic impact of climate change,"
Energy Policy, Elsevier, vol. 185(C).
- Richard S.J. Tol, 2022. "A meta-analysis of the total economic impact of climate change," Tinbergen Institute Discussion Papers 22-056/VIII, Tinbergen Institute.
- Richard S.J. Tol, 2022. "A meta-analysis of the total economic impact of climate change," Working Paper Series 0422, Department of Economics, University of Sussex Business School.
- Richard S.J. Tol & Richard S. J. Tol, 2022. "A Meta-Analysis of the Total Economic Impact of Climate Change," CESifo Working Paper Series 9919, CESifo.
- Richard S. J. Tol, 2022. "A meta-analysis of the total economic impact of climate change," Papers 2207.12199, arXiv.org, revised Aug 2022.
- Richard Tol, 2015.
"Bootstraps for Meta-Analysis with an Application to the Impact of Climate Change,"
Computational Economics, Springer;Society for Computational Economics, vol. 46(2), pages 287-303, August.
- Richard S.J. Tol, 2013. "Bootstraps for Meta-Analysis with an Application to the Impact of Climate Change," Working Paper Series 6413, Department of Economics, University of Sussex Business School.
- Ruda Zhang & Patrick Wingo & Rodrigo Duran & Kelly Rose & Jennifer Bauer & Roger Ghanem, 2020. "Environmental Economics and Uncertainty: Review and a Machine Learning Outlook," Papers 2004.11780, arXiv.org.
- Dobes Leo & Jotzo Frank & Stern David I., 2014.
"The Economics of Global Climate Change: A Historical Literature Review,"
Review of Economics, De Gruyter, vol. 65(3), pages 281-320, December.
- Stern, David I. & Jotzo, Frank & Dobes, Leo, 2013. "The Economics of Global Climate Change: A Historical Literature Review," Working Papers 249412, Australian National University, Centre for Climate Economics & Policy.
- David I. Stern & Frank Jotzo & Leo Dobes, 2013. "The Economics of Global Climate Change: A Historical Literature Review," CCEP Working Papers 1307, Centre for Climate & Energy Policy, Crawford School of Public Policy, The Australian National University.
- Fouquet, Roger, 2011.
"Long run trends in energy-related external costs,"
Ecological Economics, Elsevier, vol. 70(12), pages 2380-2389.
- Roger Fouquet, 2011. "Long Run Trends in Energy-Related External Costs," Working Papers 2011-01, BC3.
- McGrath, Luke & Hynes, Stephen & McHale, John, 2019.
"Augmenting the World Bank's estimates: Ireland's genuine savings through boom and bust,"
Ecological Economics, Elsevier, vol. 165(C), pages 1-1.
- McGrath, Luke & Hynes, Stephen & McHale, John, 2019. "Augmenting the World Bank’s estimates: Ireland’s Genuine Savings through boom and bust," Working Papers 309539, National University of Ireland, Galway, Socio-Economic Marine Research Unit.
- W. Botzen & Jeroen Bergh, 2014. "Specifications of Social Welfare in Economic Studies of Climate Policy: Overview of Criteria and Related Policy Insights," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 58(1), pages 1-33, May.
- Heun, Matthew Kuperus & Owen, Anne & Brockway, Paul E., 2018. "A physical supply-use table framework for energy analysis on the energy conversion chain," Applied Energy, Elsevier, vol. 226(C), pages 1134-1162.
More about this item
NEP fields
This paper has been announced in the following NEP Reports:- NEP-ENE-2016-04-23 (Energy Economics)
- NEP-ENV-2016-04-23 (Environmental Economics)
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:arx:papers:1603.06196. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: arXiv administrators (email available below). General contact details of provider: http://arxiv.org/ .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.