Étiqueté : Social Cost of Carbon

Does the social cost of carbon matter? : An assessment of U.S. policy

We evaluate a recent U.S. initiative to include the social cost of carbon (SCC) in regulatory decisions. To our knowledge, this paper provides the first systematic test of the extent to which applying the SCC has affected national policy. We examine all economically significant federal regulations since 2008, and obtain a surprising result: Putting a value on changes in carbon dioxide emissions does not generally affect the ranking of the preferred policy compared with the status quo…

Mitigation under long-term growth uncertainty

“Economic growth over the coming centuries is one of the major determinants of today’s optimal greenhouse gas mitigation policy. At the same time, long-run economic growth is highly uncertain. This paper is the first to evaluate optimal mitigation policy under long-term growth uncertainty in a stochastic integrated assessment model of climate change…”

The Influence of the Specification of Climate Change Damages on the Social Cost of Carbon

Drawing upon climate change damage functions previously proposed in the literature that the authors have calibrated to a common level of damages at 2.5 C, the paper examine the effect upon the social cost of carbon (SCC) of varying the specification of damages in a DICE-like integrated assessment model

A Ventured Essay about a Climate-Friendly Global Financial Architecture

We first examine the necessary conditions for climate finance to trigger a virtuous circle of confidence among investors. Then we show that an agreement at a future COP on the value of the Social Cost of Carbon (SCC) and the recognition of resulting carbon assets by central banks as new legal reserves is decisive to leverage investments for LCPs

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