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GTAP Resource #3249

"Computing game-theoretic equilibria in GTAP: Optimising regional climate change policies"
by Wiskich, Tony


Abstract
This paper outlines an approach to modelling strategic behaviour in the Global Trade Analysis Project’s computable general equilibrium model GTAP-E. This modelling innovation has been motivated by the desire to compute game-theoretic equilibria for climate policy analysis to gain insights into the potential outcomes of international climate change negotiations and optimal burden sharing arrangements. Demonstrations of the model applied under a permit trading regime and independent carbon taxation are given. The demonstrations show that, for the same value placed on emissions abatement, an international permit trading scheme results in a higher payoff for all regions. We also find that, for the same level of abatement, optimal differential carbon taxes lead to a significantly lower total welfare loss than uniform taxes imposed under international permit trading, due to pre-existing taxes. The technique can be applied more broadly to any numerical optimization of GEMPACK models.


Resource Details (Export Citation) GTAP Keywords
Category: 2010 Conference Paper
Status: Published
By/In: Presented at the 13th Annual Conference on Global Economic Analysis, Penang, Malaysia
Date: 2010
Version:
Created: Wiskich, T. (4/13/2010)
Updated: Wiskich, T. (6/17/2010)
Visits: 2,336
- Climate change policy


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