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Substitutability and the Cost of Climate Mitigation Policy

Lu, Yingying; Stern, David


We explore how and by how much the values of elasticities of substitution affect estimates of the cost of emissions reduction policies in computable general equilibrium (CGE) models. We use G-Cubed, an intertemporal CGE model, to carry out a sensitivity and factor decomposition analysis. The decomposition analysis determines the contributions of changes in average abatement costs and changes in baseline emissions to the change in total mitigation costs. The latter has not previously been...[Show more]

CollectionsANU Research Publications
Date published: 2016
Type: Journal article
Source: Environmental and Resource Economics
DOI: 10.1007/s10640-015-9936-7
Access Rights: Open Access
Open Access


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