An Optimal Transition Path for Controlling Greenhouse Gases

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Science  20 Nov 1992:
Vol. 258, Issue 5086, pp. 1315-1319
DOI: 10.1126/science.258.5086.1315

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Designing efficient policies to slow global warming requires an approach that combines economic tools with relations from the natural sciences. The dynamic integrated climate-economy (DICE) model presented here, an intertemporal general-equilibrium model of economic growth and climate change, can be used to investigate alternative approaches to slowing climate change. Evaluation of five policies suggests that a modest carbon tax would be an efficient approach to slow global warming, whereas rigid emissions- or climate-stabilization approaches would impose significant net economic costs.

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