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dc.contributor.authorBrock, Williamen_US
dc.contributor.authorEngstrom, Gustaven_US
dc.contributor.authorXepapadeas, Anastasiosen_US
dc.description.abstractA simplified energy balance climate model is considered with the global mean temperature as the state variable, and an endogenous ice line. The movements of the ice line towards the Poles are associated with damage reservoirs where initial damages are high and then eventually vanish as the ice caps vanish and the damage reservoir is exhausted. We couple this climate model with a simple economic growth model and we show that the endogenous ice line induces a nonlinearity. This nonlinearity when combined with two sources of damages - the conventional damages due to temperature increase and the reservoir damages - generates multiple steady states and Skiba points. It is shown that the policy ramp implied by this model calls for high mitigation now. Simulation results suggest that the policy ramp could be U-shaped instead of the monotonically increasing with low starting mitigation gradualist policy ramp.en_US
dc.publisher|aFondazione Eni Enrico Mattei (FEEM) |cMilanoen_US
dc.relation.ispartofseries|aNota di lavoro, Fondazione Eni Enrico Mattei: Climate Change and Sustainable Development |x20.2012en_US
dc.subject.keywordEnergy Balance Climate Modelsen_US
dc.subject.keywordDamage Reservoiren_US
dc.subject.keywordIce Lineen_US
dc.subject.keywordHeat Diffusionen_US
dc.subject.keywordPolicy Rampen_US
dc.subject.keywordSkiba Pointsen_US
dc.titleEnergy balance climate models, damage reservoirs and the time profile of climate change policyen_US
dc.typeWorking Paperen_US

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