Using Genuine Savings for Climate Policy Evaluation with an Integrated Assessment Model

Koji Tokimatsu (), Louis Dupuy and Nick Hanley
Additional contact information
Koji Tokimatsu: Tokyo Institute of Technology

Environmental & Resource Economics, 2019, vol. 72, issue 1, No 13, 307 pages

Abstract: Abstract There has been a recent increase in efforts to develop broader models to assess the impact of climate change and climate change policies, both in terms of impact measures (beyond GDP) and in terms of modelling complexity (beyond DICE/RICE models). Climate policies aimed at reducing CO2 emissions can have impacts in multiple sectors of the economy, and can change consumption levels over time. We show how the sustainability indicator Genuine Savings can be endogenised within a general equilibrium model and used as a criterion for judging the impacts of such policies in terms of future well-being. Differences in Genuine Savings rates between CO2 emission reduction scenarios are discussed. We show how a broader, Genuine Savings-based assessment of climate change can result in a re-evaluation of the consequences and costs of inaction in terms of various climate change-related policies; and how multiple environmental and well-being outcomes can be analysed within a unified modelling framework.

Keywords: Genuine Savings (GS); Integrated assessment model (IAM); Lifecycle impact assessment (LCIA); Sustainability; Policy analysis (search for similar items in EconPapers)
JEL-codes: Q01 Q54 Q56 (search for similar items in EconPapers)
Date: 2019
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

Downloads: (external link)
http://link.springer.com/10.1007/s10640-018-0292-2 Abstract (text/html)
Access to the full text of the articles in this series is restricted.

Related works:
Working Paper: Using Genuine Savings for Climate Policy Evaluation with an Integrated Assessment Model (2019)
Working Paper: Using Genuine Savings for Climate Policy Evaluation with an Integrated Assessment Model (2017)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:kap:enreec:v:72:y:2019:i:1:d:10.1007_s10640-018-0292-2

Ordering information: This journal article can be ordered from
http://www.springer. ... al/journal/10640/PS2

DOI: 10.1007/s10640-018-0292-2

Access Statistics for this article

Environmental & Resource Economics is currently edited by Ian J. Bateman

More articles in Environmental & Resource Economics from Springer, European Association of Environmental and Resource Economists Contact information at EDIRC.
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().