Regional dynamic general equilibrium model of alternative climate-change strategies, A. Nordhaus, W. D. & Yang, Z. American Economic Review, 86(4):741–765, 1996. abstract bibtex Most analyses treat global warning as a single-agent problem. The present study presents the Regional Integrated model of Climate and the Economy (RICE) model. By disaggregating into countries, the model analyzes different national strategies in climate-change policy: pure market solutions, efficient cooperative outcomes, and noncooperative equilibria. This study finds that cooperative policies show much higher levels of emissions reductions than do noncooperative strategies; that there are substantial differences in the levels of controls in both the cooperative and the noncooperative policies among different countries; and that high-income countries may be the major losers from cooperation.
@article{nordhaus_regional_1996,
title = {Regional dynamic general equilibrium model of alternative climate-change strategies, {A}},
volume = {86},
abstract = {Most analyses treat global warning as a single-agent problem. The present study presents the Regional Integrated model of Climate and the Economy (RICE) model. By disaggregating into countries, the model analyzes different national strategies in climate-change policy: pure market solutions, efficient cooperative outcomes, and noncooperative equilibria. This study finds that cooperative policies show much higher levels of emissions reductions than do noncooperative strategies; that there are substantial differences in the levels of controls in both the cooperative and the noncooperative policies among different countries; and that high-income countries may be the major losers from cooperation.},
number = {4},
journal = {American Economic Review},
author = {Nordhaus, William D. and Yang, Z.},
year = {1996},
keywords = {KR, Untagged},
pages = {741--765},
}
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