In contrast to most integrated assessment models, with limited transparency on damage functions and recursive temporal dynamics, we use a unique large-dimensional computational global climate and trade model, GTAP-DynW, to directly project the possible intertemporal impacts of water and heat stress on global food supply and food security to 2050. The GTAP-DynW model uses GTAP production and trade data for 141 countries and regions, with varying water and heat stress baselines, and results are aggregated into 30 countries/regions and 30 commodity sectors. Blue water stress projections are drawn from WRI source material and a GTAP-Water database to incorporate dynamic changes in water resources and their availability in agricultural production and international trade, thus providing a more general measure for severe food insecurity from water and heat stress damages with global warming.
View Article and Find Full Text PDFWe compare the health and economic costs of early and delayed mandated suppression and the unmitigated spread of 'first-wave' COVID-19 infections in Australia in 2020. Using a fit-for-purpose SIQRM-compartment model for susceptible, infected, quarantined, recovered and mortalities on active cases, that we fitted from recorded data, a value of a statistical life year (VSLY) and an age-adjusted value of statistical life (A-VSL), we find that the economic costs of unmitigated suppression are multiples more than for early mandated suppression. We also find that using an equivalent VSLY welfare loss from fatalities to estimated GDP losses, drawn from survey data and our own estimates of the impact of suppression measures on the economy, means that for early suppression not to be the preferred strategy requires that Australia would have to incur more than 12,500-30,000 deaths, depending on the fatality rate with unmitigated spread, to the economy costs of early mandated suppression.
View Article and Find Full Text PDFThe Asia-Pacific region, the largest and fastest growing liquefied natural gas (LNG) market in the world, has been undergoing radical changes over the past few years. These changes include considerable additional supplies from North America and Australia, and a recent LNG price slump resulting from an oil-linked pricing mechanism and demand uncertainties. This paper develops an Asia-Pacific Gas Model (APGM), based on a structural, stochastic and optimising framework, providing a valuable tool for the projection of LNG trade in the Asia-Pacific region.
View Article and Find Full Text PDF