Ambiguity Reduction by Objective Model Selection, with an Application to the Costs of the EU 2030 Climate Targets

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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Bibliographic Details
Main Author: Richard S. J. Tol
Format: Article
Language:English
Published: MDPI AG 2014-10-01
Series:Energies
Subjects:
climate policy
European Union
carbon price
forecast skill
uncertainty
Online Access:http://www.mdpi.com/1996-1073/7/11/6886

Internet

http://www.mdpi.com/1996-1073/7/11/6886

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