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ifo Institut – Leibniz-Institut für Wirtschaftsforschung an der Universität München >
CESifo Working Papers, CESifo Group Munich >
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http://hdl.handle.net/10419/54923
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| Title: | | Time is running out: The 2°C target and optimal climate policies  |
| Authors: | | Chen, Yu-Fu Funke, Michael Glanemann, Nicole |
| Issue Date: | | 2011 |
| Series/Report no.: | | CESifo working paper: Resource and Environment Economics 3664 |
| Abstract: | | The quintessence of recent natural science studies is that the 2°C target can only be achieved with massive emission reductions in the next few years. The central twist of this paper is the addition of this limited time to act into a non-perpetual real options framework analysing optimal climate policy under uncertainty. The window-of-opportunity modelling setup shows that the limited time to act may spark a trend reversal in the direction of low-carbon alternatives. However, the implementation of a climate policy is evaded by high uncertainty about possible climate pathways. |
| Subjects: | | climate policy CO2 scenarios non-perpetual real options |
| JEL: | | Q51 Q54 D81 |
| Document Type: | | Working Paper |
| Appears in Collections: | | CESifo Working Papers, CESifo Group Munich
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