Integrated assessment models II
In the sixth video of this series on the Macroeconomics of Climate Change, Amit outlines why IAMs have been and will remain the workhorse models for climate economics and policy analysis. In this video, Amit continues the discussion around IAMs and completes the model circle. He also discusses how these models can be used to justify climate action.
Overview
IAMs have been and will remain the workhorse models for climate economics and policy analysis. The smaller ones tend to be good for cost-benefit analysis but they are less good on sectoral, regional and geographical differences. The larger ones tend to include all the complexities, but they tend to be less transparent. As is the case with all models, the answers will be driven by the judgements that the modeller makes in developing the model.
Key learning objectives:
What are Abatements Costs?
What does the last component of an IAM model include?
Summary
Expert
Amit Kara
Amit is Associate Research Director for Global Macroeconomic Analysis at NIESR. He is a macroeconomist with experience in central banking, investment banking, commercial banking and corporate credit rating. He has most recently worked at HSBC where he helped design the forward economic guidance input for IFRS 9. Amit is currently working on two substantial research projects related to the macroeconomic impact of climate change.
