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Three questions need to be addressed when discussing the global warming issue. First, is a reduction in carbon dioxide emissions necessary? Second, if the answer is yes, what is the optimal level of CO2 emissions? Third, who should be held responsible for reducing CO2 emissions? This book addresses these three questions by formulating a global economic growth model with links between the economic system and the climate system. With this formulation, feedback effects of climate change on the economic systems are captured endogenously within the model structure. The book will be required reading for those working in the climate change field, as well as for computational economic model builders.
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