How do we compare the costs of greenhouse gas mitigation measures taken today with the benefits produced by these actions in the future? How do we calculate the value of an investment when benefits will continue to accrue over centuries? …
This report elaborates on four issues – technological innovation, the behavior of firms, intergenerational equity, and climate “surprises” – that have profound implications for the modelers and makers of climate policy. Computer models that integrate climate science, policy, and economic …
The U.S. economy has proven both resilient and adaptive over the past century. From the “bust” of the Great Depression to the current “boom” associated with information technology, the economy’s ability to adapt stems largely from the substitution possibilities within …
What are the potential costs of cutting greenhouse gas emissions? Can such reductions be achieved without sacrificing economic growth or the standard of living we have come to enjoy? These are important questions, and they come up again and again …
Several factors influence the costs of greenhouse gas mitigation. This report illustrates the importance of one such factor—international emissions trading—in reducing the costs of carbon control. The authors find that an international greenhouse gas emissions trading regime will significantly lower …