PT  - JOURNAL ARTICLE
AU  - John Gowdy
AU  - Roxana Juliá
TI  - Global Warming Economics in the Long Run: A Conceptual Framework
AID  - 10.3368/le.86.1.117
DP  - 2010 Feb 01
TA  - Land Economics
PG  - 117--130
VI  - 86
IP  - 1
4099  - http://le.uwpress.org/content/86/1/117.short
4100  - http://le.uwpress.org/content/86/1/117.full
SO  - Land Econ2010 Feb 01; 86
AB  - Economic models of climate change typically analyze its short-run effects, for example, up to the year 2100 or for a doubling of atmospheric CO2. This is a potentially serious shortcoming since under a business-as-usual scenario, atmospheric CO2 concentrations could more than quadruple. We introduce a framework that endogenously accounts for long-run climate change and examine the implications of alternative mitigation strategies: one in which the rates of annual emissions are reduced, and one that places absolute limits on the total amount of carbon released. We discuss alternative valuation frameworks, drawing on the debate surrounding the Stern Review. (JEL D61, D63)