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Taxation of carbon emissions with social and private discount rates

Mier, Mathias; Adelowo, Jacqueline - 2022

Energy system and power market models refrain from distinguishing between private and social discount rates. We devise a strategy to account for diverging private and social discount rates in intertemporal optimization frameworks, resulting in an optimal carbon tax above the marginal damage when...

Persistent link: https://www.econbiz.de/10013329795

Testing the dismal theorem

Anthoff, David; Tol, Richard S. J. - 2021

Weitzman's Dismal Theorem has that the expected net present value of a stock problem with a stochastic growth rate with unknown variance is unbounded. Cost-benefit analysis can therefore not be applied to greenhouse gas emission control. We use the Generalized Central Limit Theorem to show that...

Persistent link: https://www.econbiz.de/10012486424

On valuing nature-based solutions to climate change : a framework with application to elephants and whales

Chami, Ralph; Cosimano, Thomas F.; Fullenkamp, Connel; … - 2020

We develop a framework for natural resource valuation that directly addresses the fundamental collective action problem in environmental protection. Our framework uses the lessons of behavioral economics to create values that individual decision makers find credible and relatable, in addition to...

Persistent link: https://www.econbiz.de/10012606984

Unequal contributions to CO2 emissions along the income distribution within and between countries

Cappelli, Federica - 2024

The question of whether changes in income inequality affect CO2 emissions remains a topic of debate at both theoretical and empirical levels. The purpose of this paper is to examine the effect of changes in the full spectre of income distribution on consumptionbased CO2 emissions per capita. To...

Persistent link: https://www.econbiz.de/10014516556

Are economists getting climate dynamics right and does it matter?

Dietz, Simon; Ploeg, Frederick van der; Rezai, Armon; … - 2020

We show that several of the most important economic models of climate change produce climate dynamics inconsistent with the current crop of models in climate science. First, most economic models exhibit far too long a delay between an impulse of CO2 emissions and warming. Second, few economic...

Persistent link: https://www.econbiz.de/10012171780

The effects of climate change on the natural rate of interest : a critical survey

Mongelli, Francesco Paolo; Pointner, Wolfgang; End, … - 2022

This survey reviews the literature about the impact of climate change on the natural rate of interest (r*), an important yardstick for monetary policy. Economic and financial developments can lower r* in scenarios with increasing climate-related damages and uncertainty that reduce productivity...

Persistent link: https://www.econbiz.de/10013448676

A meta-analysis of the total economic impact of climate change

Tol, Richard S. J. - 2022

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...

Persistent link: https://www.econbiz.de/10013362448

Empirically-Constrained Climate Sensitivity and the Social Cost of Carbon

Dayaratna, Kevin - 2016

Integrated Assessment Models (IAMs) require parameterization of both economic and climatic processes. The latter include Ocean Heat Uptake (OHU) efficiency, which represents the rate of heat exchange between the atmosphere and the deep ocean, and Equilibrium Climate Sensitivity (ECS), or the...

Persistent link: https://www.econbiz.de/10012995329

Integrated assessment of climate catastrophes with endogenous uncertainty : does the risk of ice sheet collapse justify precautionary mitigation?

Diaz, Delavane B. - 2015

climate change. The risk of uncertain and potentially irreversible catastrophes is an important issue related to the latter … benchmark integrated assessment model. This study moves beyond recent catastrophe or tipping point studies with arbitrary risk … introduced here informs risk management strategies that balance uncertain future climate change impacts with the costs of …

Persistent link: https://www.econbiz.de/10011290817

Integrated Assessment of Climate Catastrophes with Endogenous Uncertainty : Does the Risk of Ice Sheet Collapse Justify Precautionary Mitigation?

Diaz, Delavane - 2015

Persistent link: https://www.econbiz.de/10013019654