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Economic Impact Assessment of Climate Change: A Multi-Gas Investigation with WIAGEM-GTAPEL-ICM

Discussion Papers 499, 26 S.

Claudia Kemfert, Truong P. Truong, Thomas Bruckner

2005. Jul.

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Published in: The Energy Journal 27 (2006), Special Issue 1, S. 57-107


Climate change is a long-term issue due to the long lifespan of greenhouse gases and the delayed response of the climate system. This paper investigates the long-term economic consequences of both climate change impacts and mitigation efforts by applying the multi-regional, multi-sectoral integrated assessment model WIAGEM based on GTAP-EL coupled with the reduced-form multi-gas climate model ICM. We investigate emissions reduction paths to reach a radiative forcing target of 4.5 w /m^2. Economic impacts are studied and compared with and without the inclusion of all GHG gases. We find that multi-gas emissions reduction causes less economic losses compared with a case where only CO2 emissions reductions would be considered.

Claudia Kemfert

Head of Department in the Energy, Transportation, Environment Department

Topics: Climate policy

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