The Social Cost of Carbon
AbstractThis paper surveys the literature on the economic impact of climate change. Different methods have been used to estimate the impact of climate change on human welfare. Studies agree that there are positive and negative impacts. In the short term, positive impacts may dominate, but these are largely sunk. In the longer term, there are net negative impacts. Poorer people tend to be more vulnerable to climate change. There is a trade-off between development policy and climate policy. Estimated aggregate impacts are not very large, but they are uncertain and incomplete. Estimates of the marginal impacts suggest that greenhouse gas emissions should be taxed, and that the emission reduction targets announced by politicians are probably too ambitious.
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Bibliographic InfoPaper provided by Economic and Social Research Institute (ESRI) in its series Papers with number WP377.
Date of creation: Feb 2011
Date of revision:
Climate change/Climate policy/cost/emission reduction target/impacts/Policy/Social cost of carbon;
Other versions of this item:
- Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters
This paper has been announced in the following NEP Reports:
- NEP-ALL-2011-04-23 (All new papers)
- NEP-ENE-2011-04-23 (Energy Economics)
- NEP-ENV-2011-04-23 (Environmental Economics)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Minh Ha-Duong & Nicolas Treich, 2004.
"Risk Aversion, Intergenerational Equity and Climate Change,"
Environmental & Resource Economics,
European Association of Environmental and Resource Economists, vol. 28(2), pages 195-207, June.
- Minh Ha-Duong & Nicolas Treich, 2004. "Risk aversion, intergenerational equity and climate change," Post-Print halshs-00000680, HAL.
- van den Bergh, Jeroen C. J. M., 2004. "Optimal climate policy is a utopia: from quantitative to qualitative cost-benefit analysis," Ecological Economics, Elsevier, vol. 48(4), pages 385-393, April.
Blog mentionsAs found by EconAcademics.org, the blog aggregator for Economics research:
- I'd prefer to look at the literature on this i...
by David Stern in Stochastic Trend on 2011-09-16 23:32:27
- Kopp, Robert E. & Golub, Alexander & Keohane, Nathaniel O. & Onda, Chikara, 2012. "The influence of the specification of climate change damages on the social cost of carbon," Economics - The Open-Access, Open-Assessment E-Journal, Kiel Institute for the World Economy, vol. 6(13), pages 1-40.
- Bas Jacobs, 2013. "From Optimal Tax Theory to Applied Tax Policy," CESifo Working Paper Series 4151, CESifo Group Munich.
- Mendelsohn, Robert & Dinar, Ariel, 1999. "Climate Change, Agriculture, and Developing Countries: Does Adaptation Matter?," World Bank Research Observer, World Bank Group, vol. 14(2), pages 277-93, August.
- Kennedy, Scott & Sgouridis, Sgouris, 2011. "Rigorous classification and carbon accounting principles for low and Zero Carbon Cities," Energy Policy, Elsevier, vol. 39(9), pages 5259-5268, September.
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