Economic models for climate policy analysis: A critical discussion

Climate policy analysis has come to rely heavily on large‐scale numerical simulation models of increasing complexity, posing a challenge to policy‐makers and other non‐specialists who must interpret and apply the models. This paper provides a “user's guide” to economic models used in climate analysis. We review basic features, underlying design issues, and basic research questions bearing on the models' foundations. We also provide an overview of five such global or world models currently in use.