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William Nordhaus has won the Nobel Prize in Economics for his work on sustainable growth. Nordhaus, who is among FEEM authors, was the first economist to develop a quantitative model to describe the global correlations between economics and climate change. The model allows scholars to evaluate the outcome of climate policies, such as CO2 emissions taxes. According to Nordhaus, the application of a global tax sysem for cabon dioxide emissions is one of the most effective measures to reduce air pollution.

William Nordhaus and FEEM publications

Nordhaus is among the authors of FEEM Nota di Lavoro “MODELING UNCERTAINTY IN CLIMATE CHANGE: A MULTI-MODEL COMPARISON” (2016), which was subsequently published in the JOURNAL OF THE ASSOCIATION OF ENVIRONMENTAL AND RESOURCE ECONOMISTS in 2018.

The WITCH model, cited in the references of the report that introduces the Nobel Prize, is presented in “Climate Change Mitigation, Technological Innovation and Adaptation”, a volume published by FEEM with Edward Elgar Publishing in 2014. WITCH was developed within Fondazione Eni Enrico Mattei in the early 2000s.

FEEM has tackled the NORDHAUS/STERN MODEL controversy, highlighting the different recommendations on how to cope with climate change challenges.

Nordhaus is among the contributors of “ECONOMIC GROWTH AND THE STRUCTURE OF LONG-TERM DEVELOPMENT” a volume edited by Robert M. Solow and Luigi L. Pasinetti (Macmillan Press, 1994), a collection of papers presented at the 82nd Round Table Conference of the International Economic Association organized in cooperation with FEEM.