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. overall, we find little evidence that use of the SCC has affected u.s. policy choices to date. we offer an explanation related to the political economy of regulation.
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.:
- Alex L. Marten & Stephen C. Newbold, 2011.
"Estimating the Social Cost of Non-CO2 GHG Emissions: Methane and Nitrous Oxide,"
NCEE Working Paper Series
201101, National Center for Environmental Economics, U.S. Environmental Protection Agency, revised Feb 2011.
- Marten, Alex L. & Newbold, Stephen C., 2012. "Estimating the social cost of non-CO2 GHG emissions: Methane and nitrous oxide," Energy Policy, Elsevier, vol. 51(C), pages 957-972.
- Barnett, A H, 1980. "The Pigouvian Tax Rule under Monopoly," American Economic Review, American Economic Association, vol. 70(5), pages 1037-41, December.
- Lucas W. Davis & Erich Muehlegger, 2010.
"Do Americans Consume Too Little Natural Gas? An Empirical Test of Marginal Cost Pricing,"
NBER Working Papers
15885, National Bureau of Economic Research, Inc.
- Lucas W. Davis & Erich Muehlegger, 2010. "Do Americans consume too little natural gas? An empirical test of marginal cost pricing," RAND Journal of Economics, RAND Corporation, vol. 41(4), pages 791-810.
- Robert A. Ritz, 2009. "Carbon leakage under incomplete environmental regulation: An industry-level approach," Economics Series Working Papers 461, University of Oxford, Department of Economics.
- Anthoff, David & Rose, Steven & Tol, Richard S. J. & Waldhoff, Stephanie, 2011.
"Regional and sectoral estimates of the social cost of carbon: An application of FUND,"
Economics Discussion Papers
2011-18, Kiel Institute for the World Economy.
- Anthoff, David & Rose, Steven K. & Tol, Richard S. J. & Waldhoff, Stephanie, 2011. "Regional and Sectoral Estimates of the Social Cost of Carbon: An Application of FUND," Papers WP375, Economic and Social Research Institute (ESRI).
- Buchanan, James M, 1969. "External Diseconomies, Corrective Taxes, and Market Structure," American Economic Review, American Economic Association, vol. 59(1), pages 174-77, March.
- McCubbins, Mathew D & Noll, Roger G & Weingast, Barry R, 1987. "Administrative Procedures as Instruments of Political Control," Journal of Law, Economics and Organization, Oxford University Press, vol. 3(2), pages 243-77, Fall.
- Richard S. J. Tol, 2009. "The Economic Effects of Climate Change," Journal of Economic Perspectives, American Economic Association, vol. 23(2), pages 29-51, Spring.
- Robert W. Hahn & Paul C. Tetlock, 2008. "Has Economic Analysis Improved Regulatory Decisions?," Journal of Economic Perspectives, American Economic Association, vol. 22(1), pages 67-84, Winter.
- Pizer, William A., 2002. "Combining price and quantity controls to mitigate global climate change," Journal of Public Economics, Elsevier, vol. 85(3), pages 409-434, September.
- Weitzman, Martin L., 1998. "Why the Far-Distant Future Should Be Discounted at Its Lowest Possible Rate," Journal of Environmental Economics and Management, Elsevier, vol. 36(3), pages 201-208, November.
When requesting a correction, please mention this item's handle: RePEc:cam:camdae:1346. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Howard Cobb)
If references are entirely missing, you can add them using this form.