Economic Impact Assessment of Climate Change—A Multi-gas Investigation with WIAGEM-GTAPEL-ICM

Claudia Kemfert, Truong P. Truong and Thomas Bruckner

The Energy Journal, 2006, vol. 27, issue 3_suppl, 441-460

Abstract: Climate change is a long-term issue due to the long lifespan of greenhouse gases (GHG) and the delayed response of the climate system. This paper investigates the long-term economic consequences of both climate change impacts and mitigation efforts by applying the multi-regional, multi-sectoral integrated assessment model WIAGEM based on GTAP-EL coupled with the reduced-form multi-gas climate model ICM. We investigate emissions reduction paths to reach a radiative forcing target of 4.5 W/m2. Economic impacts are studied and compared with and without the inclusion of all GHG gases. We find that multi-gas emissions reduction causes less economic losses compared with a case where only CO2 emissions reductions would be considered.

Keywords: Climate change policy; WIAGEM model; Multi-gas reduction strategy (search for similar items in EconPapers)
Date: 2006
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Persistent link: https://EconPapers.repec.org/RePEc:sae:enejou:v:27:y:2006:i:3_suppl:p:441-460

DOI: 10.5547/ISSN0195-6574-EJ-VolSI2006-NoSI3-23

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