Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/47066
Authors: 
Michaelis, Peter
Year of Publication: 
1992
Series/Report no.: 
Kiel Working Paper 528
Abstract: 
This article investigates efficient policies against global warming in the case of multiple greenhouse gases. In a dynamic optimization model conditions for an efficient combination of greenhouse gases are derived. The model is empirically specified and adapted to a simulation approach. By various simulation runs, the economics of greenhouse gas accumulation are illuminated; and in particular, it is shown that a CO2-policy alone would most likely lead to an allocation far from efficiency. These results indicate, that policy measures against global warming should allow for substituting between different greenhouse gases. Such a policy would mainly affect the agricultural sector because livestock and intensive farming techniques contribute significantly to the emission of greenhouse gases.
Document Type: 
Working Paper

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