Good climate policy requires the best possible understanding of how climatic change will impact on human lives and livelihoods in both industrialized and developing counties.
Our review of recent contributions to the climate-economics literature assesses 30 existing integrated assessment models in terms of four key aspects of the nexus of climate and the economy: the connection between the model structure and the type of results produced; uncertainty in climate outcomes and the projection of future damages; equity across time and space; and abatement costs and the endogeneity of technological change.
Differences in treatment of these issues are substantial, and directly affect model results and their implied policy prescriptions. Much can be learned about climate economics and modeling technique from the best practices in these areas; there is unfortunately no existing model that incorporates the best practices on all or most of the questions we examine.
Download publication here (external link)
Design and development by Soapbox.