Controlling Greenhouse Gases: A Survey of Global Macroeconomic Studies.

A conceptual framework which identifies the main determinants of the macroeconomic costs of abating greenhouse gases is developed. This is used to survey long-term quantitative studies of abatement, especially their modelling approaches and choices of key parameters. These studies suggest that each 20% abatement below business-as-usual emissions is likely to cost approximately 1% of gross world product. Copyright 1996 by Blackwell Publishing Ltd and the Board of Trustees of the Bulletin of Economic Research