Ambiguity Reduction by Objective Model Selection, with an Application to the Costs of the EU 2030 Climate Targets
I estimate the cost of meeting the EU 2030 targets for greenhouse gas emission reduction, using statistical emulators of ten alternative models. Assuming a first-best policy implementation, I find that total and marginal costs are modest. The statistical emulators allow me to compute the risk premiu...
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Format: | Article |
Language: | English |
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MDPI AG
2014-10-01
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Series: | Energies |
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Online Access: | http://www.mdpi.com/1996-1073/7/11/6886 |