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Complexity and the Economics of Climate Change: a Survey and a Look Forward

 

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Type:   Working paper
 
Titre:   Complexity and the Economics of Climate Change: a Survey and a Look Forward
 
Auteur(s):   Balint, Tomas - Université Panthéon-Sorbonne - Paris 1 (UP1) (Auteur)
Lamperti, Francesco - Université Panthéon-Sorbonne - Paris 1 (UP1) (Auteur)
Napoletano, Mauro (1977-...) - Observatoire français des conjonctures économiques (Auteur)
Mandel, Antoine - Ecole d'Économie de Paris - Paris School of Economics (Auteur)
Roventini, Andrea - Laboratory of Economics and Management (Auteur)
Sapio, Sandro - Universita degli studi di Napoli "Parthenope" [Napoli] (Auteur)
 
Date de publication:   2016-07
 
Éditeur:   PARIS  :  Observatoire français des conjonctures économiques
 
Collection:   Working paper de l'OFCE
 
Mots-clés:   [en] Climate change, Climate policy, Climate economics, Complex systems, Agent-based models, Socio-economics networks
 
JEL:   C63,  Q40,  Q50,  Q54
 
Résumé:   [en] We provide a survey of the micro and macro economics of climate change from a complexity science perspective and we discuss the challenges ahead for this line of research. We identify four areas of the literature where complex system models have already produced valuable insights: (i) coalition formation and climate negotiations, (ii) macroeconomic impacts of climate-related events, (iii) energy markets and (iv) diffusion of climate-friendly technologies. On each of these issues, accounting for heterogeneity, interactions and disequilibrium dynamics provides a complementary and novel perspective to the one of standard equilibrium models. Furthermore, it highlights the potential economic benefits of mitigation and adaptation policies and the risk of under-estimating systemic climate change-related risks.
 
URL:   http://www.ofce.sciences-po.fr/pdf/dtravail/WP2016-23.pdf
 
 

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Version de l'éditeur wp2016-23-balint-complexityandtheeconmics.pdf 0,61 MB