Policy - GRACE
GRACE can simulate effects of policies of climate mitigation (e.g. carbon tax, carbon market, renewable subsidy, and energy efficiency improvement), climate adaptation measures (e.g. substitution between goods/resources and market responses), climate impact (e.g. climate change impact on crop production and forest growth). the policy options targeting on specific sectors can be introduced in GRACE as it is a multi-sectoral model.
|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|