Replication data for: Watch Your Step: Optimal Policy in a Tipping Climate
Principal Investigator(s): View help for Principal Investigator(s) Derek Lemoine; Christian Traeger
Version: View help for Version V1
| Name | File Type | Size | Last Modified |
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| lemoine_traeger_tipping_matlab | 10/26/2021 11:55:AM | ||
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text/plain | 14.6 KB | 10/13/2019 03:50:AM |
Project Citation:
Lemoine, Derek, and Traeger, Christian. Replication data for: Watch Your Step: Optimal Policy in a Tipping Climate. Nashville, TN: American Economic Association [publisher], 2014. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-13. https://doi.org/10.3886/E114846V1
Project Description
Summary:
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We investigate the optimal policy response to the possibility of abrupt,
irreversible shifts in system dynamics. The welfare cost of a tipping
point emerges from the policymaker's response to altered system
dynamics. Our policymaker also learns about a threshold's location
by observing the system's response in each period. Simulations with
a recursive, numerical climate-economy model show that tipping
possibilities raise the optimal carbon tax more strongly over time. The
resulting policy paths ultimately lower optimal peak warming by up
to 0.5°C. Different types of posttipping shifts in dynamics generate
qualitatively different optimal pretipping policy paths.
Scope of Project
Subject Terms:
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Learning;
Carbon Taxes;
Climate Change;
Thresholds;
Tipping Points;
Dynamic Programming
JEL Classification:
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D78 Positive Analysis of Policy Formulation and Implementation
H23 Taxation and Subsidies: Externalities; Redistributive Effects; Environmental Taxes and Subsidies
Q54 Climate; Natural Disasters and Their Management; Global Warming
Q58 Environmental Economics: Government Policy
D78 Positive Analysis of Policy Formulation and Implementation
H23 Taxation and Subsidies: Externalities; Redistributive Effects; Environmental Taxes and Subsidies
Q54 Climate; Natural Disasters and Their Management; Global Warming
Q58 Environmental Economics: Government Policy
Data Type(s):
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other:
Collection Notes:
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These are Matlab files for running a recursive dynamic programming model of climate change policy with tipping points.
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