I suggest that any carbon prices used to inform climate policies, be they carbon prices used as policy instruments, or complementary, nonヽarbon﹑rice policies, should instead be based on marginal abatement costs, found by modeling lowヽost pathways to socially agreed, physical climate targets. A...
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The social cost of carbon: capturing the costs of future climate impacts in US policydoi:10.1016/B978-0-12-814104-5.00022-3Peter H. HowardManaging Global Warming
The marginal damage costs of different greenhouse gases: an application of FUND. Economics 8, 1–33 (2014). Nordhaus, W. D. Estimates of the Social Cost of Carbon: Background and Results from the Rice-2011 Model Technical Report (National Bureau of Economic Research, 2011). Pindyck, R. ...
First, national governments choose transfers to maximize a national social welfare function, thus allocating abatement costs between households and compensating for climate damages. Transfers are nationally optimal and mimic the tax and welfare system of each country. We find that the SCC remains ...
The Social Costs of Carbon (SCC) equals the marginal welfare loss associated with one unit of emitted CO2, divided by the marginal welfare gain associated with one unit of consumption. In stochastic assessments, both the nominator and denominator can depend on uncertain parameters; specifically they...
A SCC places a figure on the value of the economic impact of CO2 emissions to use in everything from regulation writing to discussions as to carbon legislation. Set the price too high and the economy could take a near-term hit in terms of lost opportunity costs for more sensible investment...
Back in 2015, the federal government’s Interagency Working Group (IWG) on the Social Cost of Carbon released a report that was a response to public comments of the IWG’s determination of the social cost of carbon that were solicited by the Office of Management and Budget in November 2013...
The social cost of carbon (SCC) is commonly described and used as the optimal CO2 price. However, the wide range of SCC estimates provides limited practical assistance to policymakers setting specific CO2 prices. Here we describe an alternate near-term t