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GTAP Resource #5366

"Modeling emission reductions and forest carbon sequestration in GTAP: Data Base and model improvements"
by Pena-Levano, Luis, Farzad Taheripour and Wally Tyner

Forest carbon sequestration (FCS) is considered a cost-effective method to mitigate climate change. This has attracted the attention of policy makers and academics in the last quarter century. Nevertheless, only few efforts have incorporated the FCS global supply in a global economic modeling framework. In our research, we developed the GTAP-BIO-FCS model, which offers a more comprehensive basis for climate change mitigation including alternatives such as FCS and biofuels. GTAP-BIO-FCS is a reliable model that satisfies accounting balances and provides useful tools such as detailed description of welfare variation sources. In this paper, we describe the improvements in the input-output table, the implementation of the emissions, forestry sequestration and the welfare decomposition. Likewise, we compare the simulation results with its predecessor, the GTAP-AEZ-GHG model, reducing emissions by 50% globally, under two scenarios: with and without induced climate change crop yields. Our model follows similar conclusions to its predecessor in terms of economic and environmental variables. Our model also shows consistency in its accounting balance, correct capture of the welfare variation as well as correct direction of price changes and input subsidy allocation.

Resource Details (Export Citation) GTAP Keywords
Category: 2017 Conference Paper
Status: Published
By/In: Presented at the 20th Annual Conference on Global Economic Analysis, West Lafayette, IN, USA
Date: 2017
Version: 1
Created: Pena-Levano, L. (4/15/2017)
Updated: Golub, A. (7/6/2017)
Visits: 2,513
- Software and modeling tools
- Climate change policy
- The GTAP Data Base and extensions

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This is a preliminary draft (version 1). Please Do not cite it.

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