Further Development of a Computable General Equilibrium-Model for the Long-Run Investigation of Global Impacts of GHG-Mitigation Policies

The Paper presents NEWAGE, a Computable General Equilibrium modeling system, which was developed at the IER in Stuttgart. It comprehends a national, European and world component. The text gives a detailed description of the model features and focuses then on the world part NEWAGE-W. The model reveals interdependencies and spill-over effects of national GHGabatement policies on a global level. Two additionally implemented scenarios represent the US rejection of the Kyoto-Protocol and consider the changed effective reduction targets induced by the COP6 negotiations in Bonn. The last part of the paper concentrates on the illustration of the planned further developments of the model.