Review of economic impacts from climate change under the framework of computable general equilibrium models

doi:10.12006/j.issn.1673-1719.2019.115

Abstract

Abstract:

Climate change is one of the major challenges for humanity in the 21st century, which has caused various negative impacts on natural and human systems. The assessment of economic damage caused by climate change is an important issue. The integrated assessment models under the computable general equilibrium framework (CGE_IAMs) is one of the effective means to assess the economic impacts of climate change. This paper reviews main CGE_IAMs applied in assessing climate impacts now, and analyzes the principles of these relevant models. The results show that different models have great differences in dealing with greenhouse gas emissions, climate parameters and the mechanisms of introducing climate impacts. Therefore, the economic assessment results are also different among CGE_IAMs. In addition, the current CGE_IAMs are lack of timely updating of supporting data. The methodologies are also inadequate in these CGE_IAMs. This paper suggests that future research in this field should pay more attention to the refinement and open source of models and supporting data, and the coupling of economic modules with complex climate models in CGE_IAMs should be strengthened.

Key words: Climate change, Computable general equilibrium, Integrated assessment model, Economic impact assessment

WANG Tian-Peng, TENG Fei. Review of economic impacts from climate change under the framework of computable general equilibrium models[J]. Climate Change Research, 2020, 16(4): 480-490.

Figures/Tables 2

References 52

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