Arbeitspapier
Climate feedbacks in DICE-2013R: Modeling and empirical results
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. With the present paper we try to narrow this gap in literature. We discuss different types of feedback mechanisms and show how to incorporate them into the mathematical setup of the well-known integrated assessment model DICE-2013R. Subsequently, we choose the permafrost carbon feedback (PCF) as specific application for an empirical analysis. We calibrate the parameters for our modified version of the DICE-2013R model and compute the optimal emission mitigation rates that maximize welfare accounting for the impact of the PCF. Finally, we quantify the economic losses resulting from a mitigation policy which ignores this feedback mechanism. Our empirical results generally indicate that accounting for the PCF leads to an increase in the optimal mitigation rates.
- Language
-
Englisch
- Bibliographic citation
-
Series: Volkswirtschaftliche Diskussionsreihe ; No. 327
- Classification
-
Wirtschaft
Environment and Growth
Climate; Natural Disasters and Their Management; Global Warming
Environmental Economics: Government Policy
- Subject
-
integrated assessment
DICE model
climate feedbacks
permafrost
- Event
-
Geistige Schöpfung
- (who)
-
Wirths, Heiko
Rathmann, Joachim
Michaelis, Peter
- Event
-
Veröffentlichung
- (who)
-
Universität Augsburg, Institut für Volkswirtschaftslehre
- (where)
-
Augsburg
- (when)
-
2016
- Handle
- Last update
-
10.03.2025, 11:41 AM CET
Data provider
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Wirths, Heiko
- Rathmann, Joachim
- Michaelis, Peter
- Universität Augsburg, Institut für Volkswirtschaftslehre
Time of origin
- 2016
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