An Overlapping Generations Model of Climate‐Economy Interactions
构建了一个数值校准的重叠世代模型，研究气候变化与全球经济的交互。在没有代际转移时，最优减排率从当前的16%升至长期的25%，全球平均温度比工业化前升高7.4°C；而功利主义最优路径下减排率从48%升至89%，温度升高3.4°C。
A numerically calibrated overlapping generations model of climate change and the world econommy is examined in this paper. In the absence of intergenerational transfers, efficient rates of greenhouse gas emissions abatement rise from 16% in the present to 25% in the long run, while mean global temperature increases by 7.4°C relative to the preindustrial norm. A utilitarian optimum, which attaches equal weight to each generation's life‐cycle utility, yields abatement rates that rise from 48% to 89%, with a long‐run temperature increase of 3.4°C. A second‐best utilitarian path, in which intergenerational transfers are by assumption institutionally infeasible, also supports stringent abatement measures.