Economic impact assessment of climate change: A multi-gas investigation with WIAGEM-GTAPEL-ICM

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Climate change is a long-term issue due to the long lifespan of greenhouse gases (GHG) 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/m2. 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. Copyright © 2006 by the IAEE. All rights reserved.
Original languageEnglish
JournalThe Energy Journal
Volume27
Issue numberSpecial Issue: Multi-Greenhouse Gas Mitigation and Climate
Pages (from-to)441-460
Number of pages20
ISSN0195-6574
Publication statusPublished - 27.11.2006
Externally publishedYes

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