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Revisiting The Economics Of Climate Change: The Role Of Geoengineering, Juan B. Moreno-Cruz, Sjak Smulders

Juan B. Moreno-Cruz

Technically simple and reversible measures to directly reduce mean global temper- atures could be available anytime soon. We introduce the concept of \geoengineering" into an analytical model of climate change. We model the technical and economic characteristics of geoengineering in line with the recent literature from physical and environmental management sciences. We investigate (i) under which circumstances geoengineering can substitute, partly or completely, for traditional abatement strate- gies, (ii) under which conditions and at what level geoengineering is optimally em- ployed, and (iii) whether geoengineering can mitigate free-riding problems.