SENSITIVITY OF MITIGATION TO THE OPTIMAL GLOBAL TEMPERATURE: AN EXPERIMENT WITH DICE

Jonghyun Yoo and Robert Mendelsohn
Additional contact information
Jonghyun Yoo: Yale School of Forestry & Environmental Studies, 195 Prospect Street, New Haven, CT 06511, USA

Climate Change Economics (CCE), 2018, vol. 09, issue 02, 1-8

Abstract: It is commonly assumed that the temperature which optimizes global production and welfare is the global temperature in 1900. There is an empirical evidence, however, that suggests a slightly warmer, wetter, and CO2 enriched planet which is more productive. This paper explores the sensitivity of mitigation and the Social Cost of Carbon (SCC) to different assumptions about the optimal global temperature using DICE 2016R. Each 1∘C increase in optimal global temperature lowers the SCC in 2020 by about half and delays the mitigation path by about a decade, but increases the long run temperature only slightly.

Keywords: Climate change; damage functions; Integrated Assessment Models (search for similar items in EconPapers)
Date: 2018
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://www.worldscientific.com/doi/abs/10.1142/S2010007818500033
Access to full text is restricted to subscribers

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:wsi:ccexxx:v:09:y:2018:i:02:n:s2010007818500033

Ordering information: This journal article can be ordered from

DOI: 10.1142/S2010007818500033

Access Statistics for this article

Climate Change Economics (CCE) is currently edited by Robert Mendelsohn

More articles in Climate Change Economics (CCE) from World Scientific Publishing Co. Pte. Ltd.
Bibliographic data for series maintained by Tai Tone Lim ().