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GTAP Resource #5119

"Costs of Climate Mitigation Policies"
by Chen, Y.-H. Henry, Mustafa Babiker, Sergey Paltsev and John Reilly

The wide range of cost estimates for stabilizing climate is puzzling to policy makers and researchers. Assumptions about technology costs have been studied as one reason for cost differences. We focus on policy timing and modeling of economy-wide interactions. We find that delaying the start of a global policy by 20 years triples the needed starting carbon price and increases the macroeconomic cost by nearly 30%, and including realistic details of the economy more than double net present discounted costs over the century, which suggests that models that greatly simplify the realities of modern economies likely underestimate costs.

Resource Details (Export Citation) GTAP Keywords
Category: GTAP Application
Status: Not published
Date: 2016
Created: Chen, Y. (4/26/2016)
Updated: Batta, G. (4/26/2016)
Visits: 1,050
- Climate change policy

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