The US government's social cost of carbon estimates after their first year: Pathways for improvement

Robert Kopp () and Bryan K. Mignone

No 2011-16, Economics Discussion Papers from Kiel Institute for the World Economy (IfW Kiel)

Abstract: In 2010, the U.S. government adopted its first consistent estimates of the social cost of carbon (SCC) for government-wide use in regulatory cost-benefit analysis. Here, we examine a number of the limitations of the estimates identified in the U.S. government report and elsewhere and review recent advances that could pave the way for improvements. We consider in turn socioeconomic scenarios, treatment of physical climate response, damage estimates, ways of incorporating risk aversion, and consistency between SCC estimates and broader climate policy.

Keywords: Climate change; social cost of carbon (search for similar items in EconPapers)
JEL-codes: Q54 Q58 (search for similar items in EconPapers)
Date: 2011
New Economics Papers: this item is included in nep-ene, nep-env, nep-hme and nep-reg
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https://www.econstor.eu/bitstream/10419/45847/1/662037871.pdf (application/pdf)

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Persistent link: https://EconPapers.repec.org/RePEc:zbw:ifwedp:201116

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