We present a decomposition approach for integrated assessment modeling of climate
policy based on a linear approximation of the climate system. Our objective is to demonstrate the usefulness of decomposition for integrated assessment models posed in a complementarity format. First, the complementarity formulation cum decomposition permits a precise representation of post-terminal damages thereby substantially reducing the model horizon required to produce an accurate approximation of the infinite-horizon equilibrium. Second, and central to
the economic assessment of climate policies, the complementarity approach provides a means of incorporating second-best effects that are not easily represented in an optimization model.
BOEHRINGER Christoph;
LOESCHEL Andreas;
RUTHERFORD Thomas F.;
2008-02-14
ELSEVIER SCIENCE BV
JRC34352
0165-1889,
www.sciencedirect.com,
https://publications.jrc.ec.europa.eu/repository/handle/JRC34352,
10.1016/j.jedc.2006.01.007,
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