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Growth and Climate Change : Threshold and Multiple Equilibria

DOI zum Zitieren der Version auf EPub Bayreuth: https://doi.org/10.15495/EPub_UBT_00005615
URN to cite this document: urn:nbn:de:bvb:703-epub-5615-3

Title data

Greiner, Alfred ; Grüne, Lars ; Semmler, Willi:
Growth and Climate Change : Threshold and Multiple Equilibria.
Bayreuth , 2010

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Abstract

In this paper we analyze a basic growth model where we allow for global warming. As concerns global warming we assume that the climate system is characterized by feedback effects such that the ability of the earth to emit radiation to space is reduced as the global surface temperature rises. We first study the model assuming that abatement spending is fixed exogeneously and demonstrate with the use of numerical examples that the augmented model may give rise to multiple equilibria and thresholds. Then, we analyze the social optimum where both consumption and abatement are set optimally and show that the long-run equilibrium is unique in this case. In the context of our model with multiple equilibria initial conditions are more important for policy actions than discount rates.

Further data

Item Type: Preprint, postprint
Additional notes (visible to public): erscheint in:
Crespo Cuaresma, Jesús ; Palokangas, Tapio ; Tarasyev, Alexander (Hrsg.): Dynamic Systems, Economic Growth, and the Environment. - Berlin : Springer , 2010 . - S. 63-78
DOI: https://doi.org/10.1007/978-3-642-02132-9_4
Keywords: Basic growth model; global warming; multiple equilibria; thresholds
DDC Subjects: 500 Science
500 Science > 510 Mathematics
Institutions of the University: Faculties > Faculty of Mathematics, Physics und Computer Science > Department of Mathematics > Chair Mathematics V (Applied Mathematics) > Chair Mathematics V (Applied Mathematics) - Univ.-Prof. Dr. Lars Grüne
Faculties
Faculties > Faculty of Mathematics, Physics und Computer Science
Faculties > Faculty of Mathematics, Physics und Computer Science > Department of Mathematics
Faculties > Faculty of Mathematics, Physics und Computer Science > Department of Mathematics > Chair Mathematics V (Applied Mathematics)
Language: English
Originates at UBT: Yes
URN: urn:nbn:de:bvb:703-epub-5615-3
Date Deposited: 26 May 2021 10:13
Last Modified: 09 Jun 2021 07:08
URI: https://epub.uni-bayreuth.de/id/eprint/5615

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