Stranded assets, the social cost of carbon, and directed technical change: macroeconomic dynamics of optimal climate policy

Stranded assets, the social cost of carbon, and directed technical change: macroeconomic dynamics of optimal climate policy

The tractable general equilibrium model developed by Golosov et al. (2014), GHKT for short, is modified to allow for stock-dependent fossil fuel extraction costs and partial exhaustion of fossil fuel reserves, a negative impact of global warming on growth, mean reversion in climate damages, steady l...

Bibliografske podrobnosti
Main Authors:	Van der Ploeg, R, Rezai, A
Format:	Working paper
Izdano:	University of Oxford 2016

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