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The Ramsey rule for the consumption rate of discount assumes a transfer of money of a (representative) agent at one point in time to the same agent at another point in time. Climate policy (implicitly) transfers money not just over time but also between agents. I propose three alternative...
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Earlier meta-analyses of the economic impact of climate change are updated with more data, with three new results: (1) The central estimate of the economic impact of global warming is always negative. (2) The confidence interval about the estimates is much wider. (3) Elicitation methods are most...
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211 estimates of the social cost of carbon are included in a meta-analysis. The results confirm that a lower discount rate implies a higher estimate; and that higher estimates are found in the gray literature. It is also found that there is a downward trend in the economic impact estimates of the...
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, driven by the rate of risk aversion. However, for a reasonable choice of the rate of risk aversion, rich countries are shown … assumptions about the rate of risk and inequity aversion. Estimates of the consumption rate of inequity aversion for recent data …
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rate of risk aversion, equity weighting, the socioeconomic and emission scenarios, the climate sensitivity, dynamic …
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