Response measures models - G-CUBED

G-CUBED

Name and contact of the organization

Peter J Wilcoxen

434 Crouse-Hinds, Center for Environmental Policy and Administration
The Maxwell School, Syracuse University, Syracuse, NY 13244, USA

 

Description of model

The G-Cubed is a multi-country, multi-sector,  general equilibrium model that can be used to study a variety of policies in the areas of environmental regulation, tax reform, monetary and fiscal policy and international trade.  It is different from most other models in discriminating between financial and physical capital. 

The model is therefore a suitable tool for looking at the economic impacts of a range of response measures, including tax systems, technological development and economic diversification.  It has also been applied to financial risk management in the UK.

Particular relevance

The G-Cubed model is  relevant in analysing the socio-economic impacts of climate change mitigation policies, as it has a wide range of both fiscal and monetary polices that can be studied.  These make it a suitable tool for carrying out financial risk management analysis and the model can also be used to analyse trade flows, sectoral (diversification) impacts and the effects of technological progress.

Coverage

World, split into 8 regions

Model applications

Estimates of the Costs of Kyoto-Marrakesh Versus The McKibbin-Wilcoxen Blueprint - In this paper the authors  estimate of the socio-economic cost of the Kyoto Protocol using the G-Cubed model, taking into account sink allowances and allowing for multiple gases and new land clearing estimates ( http://een.anu.edu.au/download_files/een0305.pdf).

Financial Risk Management - this study carried out an assessment of the global financial and insurance industries to assess and manage the risks posed by climate change (http://www.hm-treasury.gov.uk/d/climatechange_warwickbusinessschool.pdf) .

G-CUBED working papers (http://msgpl.com.au/papersG3pub.htm)

Organization's main area of research

Economics and public administration

Other projects / reseach

 n/a