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CO2 Emissions Limits: Economic Adjustments and the Distribution of Burdens

Henry D. Jacoby, Richard S. Eckaus, A. Denny Ellerman, Ronald G. Prinn, David M. Reiner and Zili Yang

Year: 1997
Volume: Volume18
Number: Number 3
DOI: 10.5547/ISSN0195-6574-EJ-Vol18-No3-2
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Policies under consideration within the Climate Convention would impose CO2 controls on only a subset of nations. A model of economic growth and emissions, coupled to an analysis of the climate system, is used to explore the consequences of a sample proposal of this type. The results show how economic burdens are likely to be distributed among nations, how carbon "leakage" may counteract the reductions attained, and how policy costs may be influenced by emissions trading. We explore the sensitivity of results to uncertainty in key underlying assumptions, including the influence on economic impacts and on the policy contribution to long-term climate goals.

Adjustment Time, Capital Malleability and Policy Cost

Henry D. Jacoby and Ian Sue Wing

Year: 1999
Volume: Volume 20
Number: Special Issue - The Cost of the Kyoto Protocol: A Multi-Model Evaluation
DOI: 10.5547/ISSN0195-6574-EJ-Vol20-NoSI-4
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The cost of meeting Kyoto-style emissions reductions is heavily dependent on the malleability of an economy's stock of capital and the number of years available for adjustment. Each year of delay introduces more emissionproducing activities that must be squeezed out of the system and shortens the time horizon for change, raising the carbon price required to produce the needed changes in capital structure. The MIT Emissions Prediction and Policy Assessment model is used to explore the effects of uncertainty in the degree of capital malleability in the short run, and to analyze how implied carbon prices vary depending on the time of credible commitment to emissions targets.

Experiments with a Hybrid CGE-MARKAL Model

Andreas Schafer and Henry D. Jacoby

Year: 2006
Volume: Hybrid Modeling
Number: Special Issue #2
DOI: 10.5547/ISSN0195-6574-EJ-VolSI2006-NoSI2-9
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This paper summarizes the main features of a linked CGE-MARKAL model system capable of simulating the macro-level economy and micro-level technology detail of the transport sector. Emphasis is given to issues of calibration of such a hybrid system, with references provided to already published papers based on this research for coverage of other details.

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