- Consulting Editors
- List of Contributors
- The Macroeconomics of Global Warming
- Improving Climate Projections to Better Inform Climate Risk Management
- Energy Balance Climate Models, Damage Reservoirs, and The Time Profile of Climate Change Policy
- Economics of Environmental Regime Shifts
- Policy Scenarios in a Model of Optimal Economic Growth and Climate Change
- Adaptive Model-Predictive Climate Policies in a Multicountry Setting
- Prospects of Tools from Differential Games in the Study of Macroeconomics of Climate Change
- Fairness in Climate Negotiations: A Meta-Game Analysis Based on Community Integrated Assessment
- Climate Change and Second-Best Abatement in a Multiregion World with Endogenous Growth
- Global Warming and R&D-Based Growth in a Trade Model between Environmentally Sensitive and Environmentally Neglectful Countries
- Climate Change and Intergenerational Well-Being
- The Atmosphere as a Global Commons
- The Social Cost of Carbon
- Climate-Friendly Technological Change for Developing Countries
- Renewable Energy: Models, Implications, and Prospects
- Emission Trading Systems and Technological Innovation: A Random Matching Model
- The Reality of Nuclear Power: The Fukushima Experience and Its Impact
- Forecast-Based Pricing of Weather Derivatives
- Employment and Output Effects of Climate Policies
- Macroeconomic Effects of Renewable Energy and Energy Efficiency Policies with a Focus on Germany
- Stabilization of Earth’s Climate in the 21st Century by the Stabilization of Per Capita Consumption
- Does the Kyoto Protocol Intensify Carbon Leakage to China?
- Climate Thresholds, Weather Extremes, and Catastrophic Losses
- Climate Impacts on Agriculture: A Challenge to Complacency?
- The Legal Framework of Global Environment Governance on Climate Change: A Critical Survey
- Environment and Development Challenges: The Imperative of a Carbon Fee and Dividend
- The Need for Sustainable Development and a Carbon Market: Avoiding Extinction
- Name Index
- Subject Index
Abstract and Keywords
The chapter uses a well-known canonical dynamic model of growth and climate change and explores various scenarios of mitigation policies. The Kyoto protocol was aiming at CO2 constraints, the Copenhagen agreement pursued temperature constraints, other goals are formulated in Nordhaus (2008). We explore the practicality and implications of those and other policy scenarios. To do so we impose terminal constraints for the state variables, consider the impacts of state and control constraints on abatement policies, consumption paths, CO2 emission and capital stock. We also explore the effect of the rise of temperature on households. The different scenarios are studied as guidance for policy options. We compare solutions for finite horizon and infinite horizon model variants. State and control trajectories of finite and infinite-horizon control problems are computed using numerical methods.
Helmut Maurer, Professor, Institute for Computational and Applied Mathematics, Universität Muenster.
Johann Jakob Preuß, Student, Institute for Computational and Applied Mathematics, Universität Muenster.
Willi Semmler, Henry Arnhold Professor of Economics, The New School for Social Research.
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