scholarly journals Climate Risks and Carbon Prices: Revising the Social Cost of Carbon

2011 ◽  
Author(s):  
Frank Ackerman ◽  
Elizabeth Stanton
Keyword(s):  
Social Cost ◽  
Social Cost Of Carbon ◽  
Climate Risks ◽  
The Social ◽  
Carbon Prices

scholarly journals Climate Risks and Carbon Prices: Revising the Social Cost of Carbon

2012 ◽  
Vol 6 (2012-10) ◽  
pp. 1 ◽  
Author(s):  
Frank Ackerman ◽  
Elizabeth A. Stanton
Keyword(s):  
Social Cost ◽  
Social Cost Of Carbon ◽  
Climate Risks ◽  
The Social ◽  
Carbon Prices

scholarly journals Estimates of the social cost of carbon have not changed over time

2021 ◽  
Author(s):  
Richard Tol
Keyword(s):  
Climate Change ◽  
Stationary Distribution ◽  
Social Cost ◽  
Meta Analysis ◽  
Kernel Density ◽  
Social Cost Of Carbon ◽  
Almost Everywhere ◽  
The Social ◽  
Carbon Prices ◽  
Over Time

Abstract Some claim that as knowledge about climate change accumulates, the social cost of carbon increases. A meta-analysis of published estimates shows that this is not the case. Correcting for inflation and emission year and controlling for the discount rate, kernel density decomposition reveals a stationary distribution. Actual carbon prices are almost everywhere below the estimated social cost of carbon.

scholarly journals The Social Cost of Carbon with Economic and Climate Risks

2019 ◽  
Vol 127 (6) ◽  
pp. 2684-2734 ◽  
Author(s):  
Yongyang Cai ◽  
Thomas S. Lontzek
Keyword(s):  
Social Cost ◽  
Social Cost Of Carbon ◽  
Climate Risks ◽  
The Social

scholarly journals The Social Cost of Carbon and Inequality: When Local Redistribution Shapes Global Carbon Prices

2019 ◽  
Author(s):  
Ulrike Kornek ◽  
David Klenert ◽  
Ottmar Edenhofer ◽  
Marc Fleurbaey
Keyword(s):  
Social Cost ◽  
Social Cost Of Carbon ◽  
The Social ◽  
Global Carbon ◽  
Carbon Prices

scholarly journals Inequality, climate impacts on the future poor, and carbon prices

2015 ◽  
Vol 112 (52) ◽  
pp. 15827-15832 ◽  
Author(s):  
Francis Dennig ◽  
Mark B. Budolfson ◽  
Marc Fleurbaey ◽  
Asher Siebert ◽  
Robert H. Socolow
Keyword(s):  
Social Cost ◽  
Climate Change Impacts ◽  
Carbon Price ◽  
Integrated Model ◽  
Climate Impacts ◽  
Social Cost Of Carbon ◽  
Fine Grained ◽  
The Social ◽  
Common Observation ◽  
Carbon Prices

Integrated assessment models of climate and the economy provide estimates of the social cost of carbon and inform climate policy. We create a variant of the Regional Integrated model of Climate and the Economy (RICE)—a regionally disaggregated version of the Dynamic Integrated model of Climate and the Economy (DICE)—in which we introduce a more fine-grained representation of economic inequalities within the model’s regions. This allows us to model the common observation that climate change impacts are not evenly distributed within regions and that poorer people are more vulnerable than the rest of the population. Our results suggest that this is important to the social cost of carbon—as significant, potentially, for the optimal carbon price as the debate between Stern and Nordhaus on discounting.

scholarly journals A near-term to net zero alternative to the social cost of carbon for setting carbon prices

2020 ◽  
Vol 10 (11) ◽  
pp. 1010-1014 ◽  
Author(s):  
Noah Kaufman ◽  
Alexander R. Barron ◽  
Wojciech Krawczyk ◽  
Peter Marsters ◽  
Haewon McJeon
Keyword(s):  
Social Cost ◽  
Social Cost Of Carbon ◽  
Net Zero ◽  
The Social ◽  
Near Term ◽  
Carbon Prices

scholarly journals Tail-Hedge Discounting and the Social Cost of Carbon

2013 ◽  
Vol 51 (3) ◽  
pp. 873-882 ◽  
Author(s):  
Martin L Weitzman
Keyword(s):  
Climate Change ◽  
Social Cost ◽  
Cost Benefit Analysis ◽  
Cost Benefit ◽  
Social Cost Of Carbon ◽  
Climate Risks ◽  
The Social ◽  
Huge Impact ◽  
Adjusted Rate ◽  
Expected Payoffs

The choice of an overall discount rate for climate change investments depends critically on how different components of investment payoffs are discounted at differing rates reflecting their underlying risk characteristics. Such underlying rates can vary enormously, from ≈ 1 percent for idiosyncratic diversifiable risk to ≈ 7 percent for systematic nondiversifiable risk. Which risk-adjusted rate is chosen can have a huge impact on cost-benefit analysis. In this expository paper, I attempt to set forth in accessible language with a simple linear model what I think are some of the basic issues involved in discounting climate risks. The paper introduces a new concept that may be relevant for climate-change discounting: the degree to which an investment hedges against the bad tail of catastrophic damages by insuring positive expected payoffs even under the worst circumstances. The prototype application is calculating the social cost of carbon. (JEL C51, Q54, Q58)

scholarly journals The social cost of carbon and inequality: When local redistribution shapes global carbon prices

2021 ◽  
pp. 102450
Author(s):  
Ulrike Kornek ◽  
David Klenert ◽  
Ottmar Edenhofer ◽  
Marc Fleurbaey
Keyword(s):  
Social Cost ◽  
Social Cost Of Carbon ◽  
The Social ◽  
Global Carbon ◽  
Carbon Prices

Does Using the Social Cost of Carbon Matter?: An Assessment of U.S. Policy

2013 ◽  
Author(s):  
Robert W. Hahn ◽  
Robert Ritz
Keyword(s):  
Social Cost ◽  
Social Cost Of Carbon ◽  
The Social ◽  
Carbon Matter

The social cost of carbon in a non-cooperative world

2021 ◽  
pp. 103490
Author(s):  
Christoph Hambel ◽  
Holger Kraft ◽  
Eduardo Schwartz
Keyword(s):  
Social Cost ◽  
Social Cost Of Carbon ◽  
The Social
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