The OECD model comparison project (Hoeller et al. 1991, 1992) has attempted to standardise key inputs and reduction targets and to examine the difference in baseline CO2 emissions, GDP, carbon taxes and economic costs for each of the main models. Table 3.5 shows that the business-asusual projections for the different studies are within a narrow range till 2020, but by 2100 there is a difference of a factor of two. This is due to the fact that small differences in growth rates get compounded, and become very large in absolute values over long time horizons.
Baseline estimates for GDP and GDP loss associated with CO2 abatement across different studies are shown in Table 3.6.
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