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Applying Asset Pricing Theory to Calibrate the Price of Climate Risk

Daniel, Kent D. - 2016

which uncertainty about the effect of carbon emissions on global temperature and on eventual damages is gradually resolved … maximizes the utility of the representative agent at that time. We embed a number of features including tail risk, the potential …-impact outcomes, our calibration allows us to decompose the SCC into the expected damages and the risk-premium. In contrast to most …

Persistent link: https://www.econbiz.de/10012455885

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 single worldwide price on carbon emissions via the basic democratic principle of one-person one-vote majority rule. If this WCA framework can be accepted in the first place,...

Persistent link: https://www.econbiz.de/10012455867

Leakage, Welfare, and Cost-Effectiveness of Carbon Policy

Baylis, Kathy - 2013

We extend the model of Fullerton, Karney, and Baylis (2012 working paper) to explore cost-effectiveness of unilateral climate policy in the presence of leakage. We ignore the welfare gain from reducing greenhouse gas emissions and focus on the welfare cost of the emissions tax or permit scheme....

Persistent link: https://www.econbiz.de/10012459763

Synthesis of Evidence Yields High Social Cost of Carbon Due to Structural Model Variation and Uncertainties

Moore, Frances; Drupp, Moritz A.; Rising, James; Dietz, … - National Bureau of Economic Research - 2024

Estimating the cost to society from a ton of carbon dioxide (CO2) released into the atmosphere requires connecting a model of the climate system with a representation of the economic and social effects of changes in climate, as well as the valuation and aggregation of diverse, uncertain impacts...

Persistent link: https://www.econbiz.de/10014576572

Stated Preference Estimates of the Average Social Cost of Carbon

Ashenfarb, Matthew; Kotchen, Matthew J. - National Bureau of Economic Research - 2024

This paper provides stated preference (SP) estimates of the average social cost of carbon (ASCC) for use in evaluation of the benefits and costs of climate policy. Based on a U.S. nationally representative survey, we find an average individual willingness-to-pay (WTP) of $1,116 per year to keep...

Persistent link: https://www.econbiz.de/10014468243

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 climate impacts with specific emissions, including in recent international policy discussion of Loss and Damage (L&D). However, no quantitative definition of L&D exists, nor does...

Persistent link: https://www.econbiz.de/10014372415

Pace of Adoption of Alternatives to Animal-Source Foods and Climate Goals

Hale, Galina; Onescu, Vlad; Bhangale, Ritesh - National Bureau of Economic Research - 2024

The global food system is an important contributor to greenhouse gas emissions that lead to climate change. Animal agriculture is responsible for a large share of the food-system emissions, both directly and through the production of animal feed. Limiting global warming to the goals set forth by...

Persistent link: https://www.econbiz.de/10014635699

Carbon Taxes : Many Strengths but Key Weaknesses

Gordon, Roger H. - National Bureau of Economic Research - 2023

There is a consensus among economists that a carbon tax is the best approach for addressing the effects of CO2 emissions on the global climate. However, past international agreements on climate change instead specify caps on emissions (a quantity target) for each country. This paper explores...

Persistent link: https://www.econbiz.de/10014421179

Uncertainty, Climate Change and the Global Economy

von Below, David - 2008

The paper illustrates how one may assess our comprehensive uncertainty about the various relations in the entire chain ….5 °C. The 99 percent confidence interval ranges from 3.0 °C to 6.9 °C. Uncertainty about socio-economic drivers of climate … change lie behind a non-trivial part of this uncertainty about global warming …

Persistent link: https://www.econbiz.de/10012464221

Output and Attribute-Based Carbon Regulation Under Uncertainty

Kellogg, Ryan - 2019

expected welfare than "flat" emission standards given uncertainty in demand for output (or attributes), assuming locally …

Persistent link: https://www.econbiz.de/10012480118

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