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http://hdl.handle.net/10419/24153
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| Title: | | Decomposing Integrated Assessment Climate Change  |
| Authors: | | Böhringer, Christoph Löschel, Andreas Rutherford, Thomas F. |
| Issue Date: | | 2005 |
| Series/Report no.: | | ZEW Discussion Papers 05-07 |
| Abstract: | | We present a decomposition approach for integrated assessment modeling of climate policy based on a linear approximation of the climate system. Our objective is to demonstrate the usefulness of decomposition for integrated assessment models posed in a complementarity format. First, the complementarity formulation cum decomposition permits a precise representation of post-terminal damages thereby substantially reducing the model horizon required to produce an accurate approximation of the infinite-horizon equilibrium. Second, and central to the economic assessment of climate policies, the complementarity approach provides a means of incorporating second-best effects that are not easily represented in an optimization model. |
| Subjects: | | integrated assessment decomposition terminal constraints optimal taxation |
| JEL: | | D61 D58 C63 C61 |
| Document Type: | | Working Paper |
| Appears in Collections: | | Publikationen von Forscherinnen und Forschern des ZEW ZEW Discussion Papers
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