Economic approaches to cost estimates for the control of carbon dioxide emissions

This paper gives an assessment of the relative strengths and weaknesses of a variety of economic approaches commonly used for cost estimates for limiting CO2 emissions, including the ad hoc approach, the dynamic optimization approach, the input-output approach, the macro-economic approach, the computable general equilibrium approach, and the hybrid approach. It illustrates how these different economic approaches are able to shed light on different aspects of the control of CO2 emissions. Some conclusions with respect to the applicability of each approach are drawn. 1 fig., 4 tabs., 38 refs