DICE Model Reassessment: Summary and key findings from first phase of analysis
This working paper analysis, developed by Dr. Robert Repetto and Dr. Robert Easton, analyzed the most prominent climate economics assessment model (DICE), and found that recent estimates used by the U.S. and others prove to be too pessimistic about the ability to balance efforts to fight climate change while maintaining economic growth.
The analysis reveals that if major emitting nations, such as the USA, adopt efficient policies to reduce emissions, world output over the period 2010-2050 would expand at 2.28% percent per year and warming would stabilize below a 2 degree increase. That is virtually the same rate, 2.31% per year, at which GDP would grow if global warming were not kept to safe limits. However, in the more protective scenario, emissions per unit of output would decline more than twice as rapidly.
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