Global S&T Development Trend Analysis Platform of Resources and Environment
DOI | 10.1016/j.ecolecon.2018.03.023 |
Faraway, So Close: Coupled Climate and Economic Dynamics in an Agent-based Integrated Assessment Model | |
Lamperti, F.1; Dosi, G.1; Napoletano, M.2,3; Roventini, A.1,4; Sapio, A.5 | |
2018-08-01 | |
发表期刊 | ECOLOGICAL ECONOMICS |
ISSN | 0921-8009 |
EISSN | 1873-6106 |
出版年 | 2018 |
卷号 | 150页码:315-339 |
文章类型 | Article |
语种 | 英语 |
国家 | Italy; France |
英文摘要 | In this work we develop an agent-based model that offers an alternative to standard, computable general equilibrium integrated assessment models (IAMs). The Dystopian Schumpeter meeting Keynes (DSK) model is composed of heterogeneous firms belonging to capital-good, consumption-good and energy sectors. Production and energy generation lead to greenhouse gas emissions, which affect temperature dynamics. Climate damages are modelled at the individual level as stochastic shocks hitting workers' labour productivity, energy efficiency, capital stock and inventories of firms. In that, aggregate damages emerge from the aggregation of losses suffered by heterogeneous, interacting and boundedly rational agents. The model is run focusing on a business-as-usual carbon-intensive scenario consistent with a Representative Concentration Pathway 8.5. We find that the DSK model is able to account for a wide ensemble of micro- and macro-empirical regularities concerning both economic and climate dynamics. Simulation experiments show a substantial lack of isomorphism between the effects of micro- and macro-level shocks, as it is typical in complex system models. In particular, different types of shocks have heterogeneous impact on output growth, unemployment rate, and the likelihood of economic crises, pointing to the importance of the different economic channel affected by the shock. Overall, we report much larger climate damages than those projected by standard IAMs under comparable scenarios, suggesting possible shifts in the growth dynamics, from a self-sustained pattern to stagnation and high volatility, and the need of urgent policy interventions. |
英文关键词 | Climate change Agent-based models Integrated assessment Macro-economic dynamics Climate damages |
领域 | 资源环境 |
收录类别 | SCI-E ; SSCI |
WOS记录号 | WOS:000444364000028 |
WOS关键词 | CARBON-DIOXIDE EXCHANGE ; BUSINESS CYCLES ; SOCIAL COST ; GRANGER CAUSALITY ; FISCAL-POLICIES ; ATMOSPHERIC CO2 ; OUTPUT GROWTH ; RISK ; UNCERTAINTY ; INVESTMENT |
WOS类目 | Ecology ; Economics ; Environmental Sciences ; Environmental Studies |
WOS研究方向 | Environmental Sciences & Ecology ; Business & Economics |
引用统计 | |
文献类型 | 期刊论文 |
条目标识符 | http://119.78.100.173/C666/handle/2XK7JSWQ/15968 |
专题 | 资源环境科学 |
作者单位 | 1.Scuola Super Sant Anna, Inst Econ, Piazza Martiri Liberal 33, I-56127 Pisa, Italy; 2.SKEMA Business Sch, OFCE, Nice, France; 3.Univ Cote Azur, Nice, France; 4.OFCE, Nice, France; 5.Parthenope Univ Naples, Naples, Italy |
推荐引用方式 GB/T 7714 | Lamperti, F.,Dosi, G.,Napoletano, M.,et al. Faraway, So Close: Coupled Climate and Economic Dynamics in an Agent-based Integrated Assessment Model[J]. ECOLOGICAL ECONOMICS,2018,150:315-339. |
APA | Lamperti, F.,Dosi, G.,Napoletano, M.,Roventini, A.,&Sapio, A..(2018).Faraway, So Close: Coupled Climate and Economic Dynamics in an Agent-based Integrated Assessment Model.ECOLOGICAL ECONOMICS,150,315-339. |
MLA | Lamperti, F.,et al."Faraway, So Close: Coupled Climate and Economic Dynamics in an Agent-based Integrated Assessment Model".ECOLOGICAL ECONOMICS 150(2018):315-339. |
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