Climate change, response timing, and integrated assessment modeling

Akihiro Amano
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Akihiro Amano: Kwansei Gakuin University

Environmental Economics and Policy Studies, 1998, vol. 1, issue 1, No 2, 3-18

Abstract: Abstract This paper examines three questions that often come up during integrated assessment debates in relation to the timing of an appropriate response to global warming: discounting, technical change, and limiting the speed of global warming. The present gaps in the debate on the rate of return on capital versus the consumption rate of interest can be narrowed if negative externalities and the effect of environmental degradation on consumption utility are properly taken into account in the dynamic social optimality condition. Endogenization of technical change within the energy sector will also narrow the gap during debates on early and delayed mitigation. Finally, the need for limiting the speed of temperature increase during, for example, the decadal time period is discussed.

Keywords: Global warming; Integrated assessment; Discount rate; Energy technology; Safe emission corridor (search for similar items in EconPapers)
Date: 1998
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DOI: 10.1007/BF03353892

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