We use FUND 3.5 to estimate the social cost of carbon dioxide, methane, nitrous oxide, and sulphur hexafluoride emissions. We show the results of a range of sensitivity analyses, focusing on the impact of carbon dioxide fertilization. Ignored in previous studies of the social cost of greenhouse...

A fundamental and highly relevant question for climate policy design is whether price controls, such as CO2 taxes, or quantity restrictions, such as emission quotas, should be preferred. This paper shows that as the reach of climate policies is limited either geographically or in terms of...