Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/174538
Authors: 
Balint, Tomas
Mandel, Antoine
Napoletano, Mauro
Roventini, Andrea
Sapio, Alessandro
Year of Publication: 
2016
Series/Report no.: 
LEM Working Paper Series 2016/29
Abstract: 
We provide a survey of the micro and macro economics of climate change from a complexity science perspective and we discuss the challenges ahead for this line of research. We identify four areas of the literature where complex system models have already produced valuable insights: (i) coalition formation and climate negotiations, (ii) macroeconomic impacts of climate-related events, (iii) energy markets and (iv) diffusion of climate-friendly technologies. On each of these issues, accounting for heterogeneity, interactions and disequilibrium dynamics provides a complementary and novel perspective to the one of standard equilibrium models. Furthermore, it highlights the potential economic benefits of mitigation and adaptation policies and the risk of under-estimating systemic climate change-related risks.
Subjects: 
climate change
climate policy
climate economics
complex systems
agent-based models
socio-economic networks
JEL: 
O34
G34
O13
O14
Document Type: 
Working Paper

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