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The Social Cost of Carbon Revisited
Pindyck, Robert S. - 2016
An estimate of the social cost of carbon (SCC) is key to climate policy. But how should we estimate the SCC? A common approach is to use an integrated assessment model (IAM) to simulate time paths for the atmospheric CO2 concentration, its impact on global mean temperature, and the resulting...
Persistent link: https://www.econbiz.de/10012455873
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Estimates of the Social Cost of Carbon : Background and Results from the RICE-2011 Model
Nordhaus, William D. - 2011
A new and important concept in global warming economics and policy is the social cost of carbon or SCC. This concept represents the economic cost caused by an additional ton of carbon-dioxide emissions or its equivalent. The present study describes the development of the concept as well as its...
Persistent link: https://www.econbiz.de/10012461118
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Which Social Cost of Carbon? A Theoretical Perspective
Kotchen, Matthew J. - 2016
This paper develops a theoretical foundation for the social cost of carbon (SCC). The model highlights the source of debate over whether countries should use the global or domestic SCC for regulatory impact analysis. I identify conditions under which a country's decision to internalize the...
Persistent link: https://www.econbiz.de/10012456430
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On a World Climate Assembly and the Social Cost of Carbon
Weitzman, Martin - 2016
This paper postulates the conceptually useful allegory of a futuristic "World Climate Assembly" (WCA) that votes for a … emitter's single-peaked most-preferred world price of carbon emissions to the world "Social Cost of Carbon" (SCC). The second … and third propositions relate the WCA-voted world price of carbon to the world SCC. I argue that the WCA-voted price and …
Persistent link: https://www.econbiz.de/10012455867
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Price of Long-Run Temperature Shifts in Capital Markets
Bansal, Ravi - 2016
We use the forward-looking information from the US and global capital markets to estimate the economic impact of global warming, specifically, long-run temperature shifts. We find that global warming carries a positive risk premium that increases with the level of temperature and that has almost...
Persistent link: https://www.econbiz.de/10012456150
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Estimating the Social Cost of Carbon for Use in U.S. Federal Rulemakings : A Summary and Interpretation
Greenstone, Michael - 2011
The United States Government recently concluded a year-long process to develop a range of values representing the monetized damages associated with an incremental increase in carbon dioxide (CO2) emissions, commonly referred to as the social cost of carbon (SCC). These values are currently used...
Persistent link: https://www.econbiz.de/10012461744
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Quantifying Climate Change Loss and Damage Consistent with a Social Cost of Greenhouse Gases
Burke, Marshall; Zahid, Mustafa; Diffenbaugh, Noah; … - National Bureau of Economic Research - 2023
Climate change is generating demonstrable harm around the world. Political and legal efforts have sought to associate …
Persistent link: https://www.econbiz.de/10014372415
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Belts and Suspenders : Interactions Among Climate Policy Regulations
Levinson, Arik - 2010
With few exceptions, economic analyses of "cap-and-trade" permit trading mechanisms for climate change mitigation have been based on first-best scenarios without pre-existing distortions or regulations. The reason is obvious: interactions between permit trading and other regulations will be...
Persistent link: https://www.econbiz.de/10012462547
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International Trade and the Negotiability of Global Climate Change Agreements
Cai, Yuezhou - 2009
Country incentives to participate in cooperative arrangements which either fully or partially internalize climate change externalities from carbon emissions involve critical asymmetries. Small countries trade off own country costs of carbon mitigation actions against their own benefits from...
Persistent link: https://www.econbiz.de/10012463936
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Climate Change and Economic Growth : Evidence from the Last Half Century
Dell, Melissa - 2008
climatic changes on economic activity throughout the world. We find three primary results. First, higher temperatures …
Persistent link: https://www.econbiz.de/10012464514