Journal
ENERGY ECONOMICS
Volume 27, Issue 3, Pages 369-386Publisher
ELSEVIER
DOI: 10.1016/j.eneco.2005.03.005
Keywords
climate change; environmental policy; intergenerational costs and benefits; overlapping generations
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The costs and benefits current and future generations incur as the result of climate change or an environmental control policy are often confounded with other objectives, such as, generational discounting or optimal policy design. This paper uses a consumption equivalent measure to simulate the loss or gain of consumption independent of these confounding objectives. The findings suggest that the costs associated with an emissions stabilization program are relatively large for current generations and continue to increase over the next 100 years. The first generation to actually benefit from the stabilization program is born early during the 24th century. (c) 2005 Elsevier B.V. All rights reserved.
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