@techreport{Bosello2010Adaptation,
abstract = {This work develops a framework for the analysis at the macro-level of the relationship between adaptation and mitigation policies. The FEEM-RICE growth model with stock pollution, endogenous R&D investment and emission abatement is enriched with a planned-adaptation module where a defensive capital stock is built through adaptation investment. Within this framework the optimal path of planned adaptation, the optimal inter and intra temporal mix between adaptation, mitigation and investment in R&D, and the sensitivity of a strategy to each other is identified. The major conclusions of this research show that adaptation, mitigation and R&D are strategic complements as all concur together to the solution of the climate change problem; nonetheless the possibility to adapt reduces the need to mitigate and partly crowds out other forms of investment like those in R&D. The optimal intertemporal distribution of strategies is also described: it requires to anticipate mitigation effort that should start already when climate damages are low and postpone adaptation intervention until they are substantial. Thus the possibility to adapt is not a justification to delay abatement activities. A sensitivity analysis demonstrates the robustness of these results to different parameterizations, in particular to changes in expected climate-change damages and in the discount rates.},
address = {Milano},
author = {Francesco Bosello},
copyright = {http://www.econstor.eu/dspace/Nutzungsbedingungen},
keywords = {Q25; Q28; 330; Climate Change Impacts; Mitigation; Adaptation; Integrated Assessment; Klimaver\"{a}nderung; Klimaschutz; Umweltpolitik},
language = {eng},
number = {2010,22},
publisher = {Fondazione Eni Enrico Mattei},
title = {Adaptation, mitigation and 'green' R&D to combat global climate change: Insights from an empirical integrated assessment exercise},
type = {Nota di lavoro // Fondazione Eni Enrico Mattei: Sustainable development},
url = {http://hdl.handle.net/10419/43481},
year = {2010}
}
