NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Climate Engineering Economics

Garth Heutel, Juan Moreno-Cruz, Katharine Ricke

NBER Working Paper No. 21711
Issued in November 2015
NBER Program(s):   EEE

This article reviews and evaluates the nascent literature on the economics of climate engineering. The literature distinguishes between two broad types of climate engineering: solar radiation management and carbon dioxide removal. We review the science and engineering characteristics of these technologies and analyze the implications of those characteristics on economic policy design. We discuss optimal policy and carbon price, inter-regional and inter-generational equity issues, strategic interaction in the design of international environmental agreements, and the sources of risk and uncertainty surrounding these technologies. Along with mitigation and adaptation, climate engineering technologies can be incorporated into future domestic and global climate policy design. More research on the topic is needed.

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Document Object Identifier (DOI): 10.3386/w21711

Published: Garth Heutel & Juan Moreno-Cruz & Katharine Ricke, 2016. "Climate Engineering Economics," Annual Review of Resource Economics, vol 8(1).

 
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