Uncertain climate thresholds and optimal economic growth

By Klaus Keller, Benjamin M. Bolker, D. Bradford. 2004

349 citations recorded by the source corpus.

Subfields: Economics and Econometrics, Renewable Energy, Sustainability and the Environment

View Paper: https://www.semanticscholar.org/paper/35084b3e4df68b418b1b661e777abcca699377bd

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Citations in the corpus

The economics (or lack thereof) of aerosol geoengineering (2009, background): “3) Continuous and discontinuous aerosol geoengineering: This strategy only uses aerosol geoengineering and no CO2 abatement.”
Scientific Ambiguity and Climate Policy (2013, background): “A few authors have combined these two approaches by solving stochastic-dynamic control problems to determine optimal policies that account for learning about future risks (e.g. Keller et al. 2004; Kelly and Kolstad 1999; Karp and Zhang 2006).”
A Review of the Stern Review (2006, background): “…Review to recommend more stringent emission reduction than earlier, more standard benefit–cost analyses (see, for example, Azar and Lindgren, 2003; Keller et al., 2004, 2005; Maddison, 1995; Manne et al., 1995; Nordhaus, 1991, 1993, 1994; Nordhaus and Boyer, 2000; Nordhaus and Yang, 1996; Peck…”
Optimal climate change mitigation under long-term growth uncertainty: Stochastic integrated assessment and analytic findings (2014, background): “A different strand of the literature analyzes the impact of climate sensitivity uncertainty on optimal mitigation (Kelly & Kolstad 1999, Leach 2007, Jensen & Traeger 2013, Kelly & Tan 2013) and the policy impact of tipping points (Keller et al. 2004, Lemoine & Traeger 2014, Lontzek et al. 2012).”
The Economic Impacts of Climate Change (2018, background): “A series of papers (Keller, Bolker, and Bradford 2004; van den Bijgaart et al. 2013; Lemoine and Traeger 2014; van der Ploeg 2014) show that catastrophes break the smoothness assumed by Golosov et al. (2014), and hence their simple function for the social cost of carbon.”
The Influence of the Specification of Climate Change Damages on the Social Cost of Carbon (2012, positive): “Keller et al. (2004) (our damage specification K) model damages from the collapse of the AMOC, assumed to vary uniformly between 0 and 3 percent of global GDP, by adding a term for damages above a certain threshold.”
Tipping elements and climate–economic shocks: Pathways toward integrated assessment (2016, background): “Some [e.g., Keller et al., 2000, 2004; Mastrandrea and Schneider, 2001] have linked simple models of AMOC stability to arbitrary perturbations of the damage function of a simple benefit–cost IAM like DICE.”
What are robust strategies in the face of uncertain climate threshold responses? (2012, methodology): “While MOC specific damages are deeply uncertain (Nordhaus 1994; Keller et al. 2000; Alley et al. 2002; Link and Tol 2004), we follow Keller et al. (2004), McInerney and Keller (2008) and Tol (2003) and assign a mean value of 1.5% gross world product (GWP) to MOC specific damages.”
The stochastic lake game: A numerical solution (2006, methodology): “The other is to use soft computing methods such as Keller et al. (2004) who successfully used a genetic algorithm to solve a climate change model with irreversibilities.”
The impact of climate change and the social cost of carbon (2018, background): “Keller et al. (2004) show that catastrophes break Golosov’s smoothness, and hence their simple function for the social cost of carbon.”
Targets for global climate policy: an overview (2013, background): “Keller et al. (2000, 2004, 2005) show that the above is true, as long as catastrophe can be avoided.”
When starting with the most expensive option makes sense: Optimal timing, cost and sectoral allocation of abatement investment (2018, background): “Examples include Kolstad (1996) and Keller et al. (2004) on learning that reduces climate uncertainty over time; Bruin et al. (2009) and Bosello et al. (2010) on how considering adaptation to climate change impacts may aﬀect optimal mitigation; Hwang et al. (2013) and Lemoine and Traeger (2014) on…”
Managing Systems with Non-convex Positive Feedback (2003, background): “Examples include (1) fisheries and other renewable resource dynamics (Clark 1990) wherein stock reductions due to fishing reduce stock and reproduction rates generating a destabilizing feedback on fishing stock, (2) dynamics of climate change ( Keller et al. 2001; Deutsch et al. 2002) wherein globa”