 Although dynamic (in that it considered the changing levels of supply of fuel based on supply and demand and the consequence impact on carbon dioxide emissions) the model did not attempt to measure the economic "impact" of climate change.A 1991 paper by Nordhaus developed a steady-state model of both the economy and climate, coming quite close to the DICE model.The model appears to have first been proposed by economist William Nordhaus in a discussion paper for the Cowles Foundation in February 1992.