A dynamic stochastic climate-economy model.
History of this code:
Version 1: code and resolution with Chebyshev polynomials originally developed by Céline Guivarch and Antonin Pottier (Guivarch & Pottier, Environmental Modelling & Assessment, 2018) and inspired by DSICE from Cai, Lontzek, Judd ("DSICE: A Dynamic Stochastic Integrated Model of Climate and Economy", 2012 RDCEP working paper No. 12-02) and Cai & Lontzek ("The SCC with economic and climate risks", 2019, Journal of Political Economy).
Version 2: work by Nicolas Taconet (Taconet, Guivarch & Pottier, Environmental & Resource Economics, 2021): introduce a stochastic stylized tipping point and Epstein-Zin-Weil preferences.
Version 3: work by Romain Fillon (Fillon, Guivarch & Taconet, Journal of Environmental Economics and Management, 2023): transfer the code to python v3, update dynamics to DICE 2016, introduce risk-sensitive preferences and value function decomposition.
Version available here is version 3. Contact for questions: Romain Fillon, [email protected]
Distributed under the GNU GENERAL PUBLIC LICENSE. See LICENSE for more information.