A Global-Economy Climate Model with High Regional Resolution
Abstr act:
This paper develops a dynamic, glob al, economy-climate (or integrated-assessment) model with high regional res olution. The model features a very large number of regions and substantial region-specific detail; rich economic interactions between regions (such as capital flows); and uncertainty about weather and climate. The model is us ed, one, to measure the heterogeneous effects across different regions of c limate change and climate policy and, two, to study the global effects of h eterogeneous policy (such as carbon taxes that vary by region). The model t hus expands substantially on the canonical DICE and RICE models, pushing ou t the research frontier to allow the quantitative evaluation of climate cha nge and climate policy at a level of geographic resolution that those model s do not permit. It also introduces economic mechanisms—such as spatial ada ptation, leakage in response to differential climate policy across regions, and (partial) insurance against shocks to weather and climate—upon which t hese models are silent. The model delivers quantitative evaluations of welf are for each of its 19,000 regions. Welfare differs by region both because climate change affects regions differently and because climate policy diffe rs across regions. The model can therefore assess quantitatively the distri butional effects of climate change and climate policy.
DTSTAMP:20260405T175304Z DTSTART:20140310T173000Z DTEND:20140310T190000Z SEQUENCE:0 TRANSP:OPAQUE END:VEVENT END:VCALENDAR