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| Author: | Reilly, J. M. Richards, K. R. |
| Title: | Climate change damage and the trace gas index issue |
| Journal: | Environmental and Resource Economics
1993 : FEB, VOL. 3:1, p. 41-61 |
| Index terms: | ENVIRONMENTAL PROTECTION CLIMATE POLLUTION POLLUTION CHARGES |
| Language: | eng |
| Abstract: | Efficient policies to control trace gas emissions require estimation of an appropriate "exchange rate" among these gases; i.e. the relative value of reducing emissions of each gas. A dynamic stock pollutant model is developed that considers damages associated with both non-climatic and climatic effects of the gases, differing atmospheric lifetimes of the gases, the discount rate, and non-linear damages. The index value and shadow value of control are estimated for different kinds of gases. The general approach developed in the paper may have application for other environmental problems where multiple substances pose individual risks but jointly contribute to a risk. |
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