The permafrost carbon feedback in DICE-2013R modeling and empirical results

Heiko Wirths (), Joachim Rathmann () and Peter Michaelis ()
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Heiko Wirths: University of Augsburg
Joachim Rathmann: Institute of GeographyUniversity of Augsburg
Peter Michaelis: University of Augsburg

Environmental Economics and Policy Studies, 2018, vol. 20, issue 1, No 6, 109-124

Abstract: Abstract Climate feedback mechanisms that have the potential to intensify global warming have been omitted almost completely in the integrated assessment of climate change and the economy so far. In the present paper, we incorporate the permafrost carbon feedback (PCF) into the well-known integrated assessment model DICE-2013R. We calibrate the parameters for our extended version of DICE-2013R and compute the optimal emission mitigation rates that maximize welfare. Our results indicate that accounting for the PCF leads to an increase in mitigation. Finally, we quantify the economic losses resulting from a climate policy which ignores the impacts of the PCF.

Keywords: Integrated assessment; DICE model; Climate feedbacks; Permafrost (search for similar items in EconPapers)
JEL-codes: O44 Q54 Q58 (search for similar items in EconPapers)
Date: 2018
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Citations: View citations in EconPapers (8)

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DOI: 10.1007/s10018-017-0186-5

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