Emissions - GRACE
The GRACE model is suitable for analysing different mitigation policies since it can depict many policy instruments, such as carbon taxes and emissions permits. The base year CO2 emissions are provided by the GTAP database. Emissions permits are modelled as fixed-factor inputs (i.e., via a Leontief function). The latest version of the model also includes non-CO2 GHG emissions, such as methane (CH4), nitrous oxide (N2O), fluorinated gases (FGAS), which are provided by the GTAP database.
|No previous version available|
|Institution||Center for International Climate Research (CICERO), Norway, https://cicero.oslo.no/en.|
|Solution concept||General equilibrium (closed economy)|
|Solution method||SimulationRecursive dynamic solution method|