Building Interpretable Climate Emulators for Economics

We introduce a framework for developing efficient and interpretable climate emulators (CEs) for economic models of climate change. The paper makes two main contributions. First, we propose a general framework for constructing carbon-cycle emulators (CCEs) for macroeconomic models. The framework is implemented as a generalized linear multi-reservoir (box) model that conserves key physical quantities and can be customized for specific applications. We consider three versions of the CCE, which we e...