Project Title & Description
Integrated Assessment of Greenhouse Gases
MIT will integrate impacts into their economic framework to develop modules that
represent physical impacts. They then simulate the additional demands created on other sectors of the economy to replace these losses and the effect on factor inputs (lost capital, labor or leisure, reduced land productivity, etc.) as shocks in the general equilibrium economic model component of the IGSM. This allows MIT to value physical impacts and to account for intersectoral interactions through the embedded input-output structure of the model.