ACE – Analytic Climate Economy (with Temperature and Uncertainty)
نویسندگان
چکیده
The paper develops an analytic integrated assessment model of climate change (AIAM). The model enhances our current understanding of climate policy and explains crucial relations to the broader audience. Is the first quantitative analytic model comprising all the relevant components of its numeric deterministic counterparts used in policy advising. The model comes with a new framework to address climate change uncertainties. The analytic solution overcomes Bellman’s curse of dimensionality for a wide range of stochastic processes. I show the different welfare implications of “objective” uncertainty, epistemological uncertainty, and anticipated learning and discuss policy and modeling implications. JEL Codes: Q54, H43, E13, D81, D90, D61
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