Conference Agenda
Overview and details of the sessions of this conference. Please select a date or location to show only sessions at that day or location. Please select a single session for detailed view (with abstracts and downloads if available).
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Daily Overview |
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Integrated Assessment Models Location: B005 Session Chair: Michael Sureth, Potsdam Institute for Climate Impact Research (PIK) | |
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Improving wealth accounting and global sustainability assessment with an integrated assessment model Tokyo Institute of Technology, Japan It is widely acknowledged that wealth-based indicators by the two authorities (groups of the World Bank and the United Nations) encounter problems in showing significant discrepancies in empirical estimates, disregarding the equivalence of their theoretical basis. Most studies use observed market prices for shadow prices and past datasets for quantities of various capital components in wealth accounting. Instead, we employ our integrated assessment model (IAM) to generate quantities and shadow prices up to 2150. Our IAM endogenously generates utility flow determined by per capita consumption over 10-year time intervals, enabling us to compute the growth rate of the discounted sum of utility (i.e., social welfare) and per capita consumption. The model enables us to use consistently forward-looking shadow prices and quantities to calculate wealth components across the wealth-based indicators. We compared our rates with those of the indicators to show which are closest to social welfare and per capita consumption. | |