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Greenhouse gases mitigation: Global externalities and short termism

Giovanni Di Bartolomeo (), Behnaz Minooei Fard and Willi Semmler ()

No 196, Working Papers from University of Rome La Sapienza, Department of Public Economics

Abstract: Policies designed to limit greenhouse gases (GHGs) imply domestic tradeoffs and international externalities, which lead to both domestic and international conflicts, influencing their feasibility and implementation. Our paper aims at investigating two quantitative aspects within this debate. We intend to quantify the impact of (a) the internalization of international externalities and (b) the damage associated with a short-term view of climate policies. In this respect, we adopt the innovative (in this field) idea of model predictive control to formalize moving-horizon policy strategies and, thus, to build counterfactuals in which policymakers may have different horizons

Keywords: Global warming; CO2 concentration; Climate policy; Short termism; Non-linear model predictive control (search for similar items in EconPapers)
JEL-codes: C61 P28 Q54 Q58 (search for similar items in EconPapers)
Pages: 16
Date: 2021-06
New Economics Papers: this item is included in nep-ene and nep-env
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