EconPapers    
Economics at your fingertips  
 

Estimates of the social cost of carbon have increased over time

Richard Tol

Papers from arXiv.org

Abstract: A meta-analysis of published estimates shows that the social cost of carbon has increased as knowledge about climate change accumulates. Correcting for inflation and emission year and controlling for the discount rate, kernel density decomposition reveals a non-stationary distribution. In the last 10 years, estimates of the social cost of carbon have increased from $33/tC to $146/tC for a high discount rate and from $446/tC to $1925/tC for a low discount rate. Actual carbon prices are almost everywhere below its estimated value and should therefore go up.

Date: 2021-05, Revised 2022-08
New Economics Papers: this item is included in nep-ene and nep-env
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1) Track citations by RSS feed

Downloads: (external link)
http://arxiv.org/pdf/2105.03656 Latest version (application/pdf)

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:arx:papers:2105.03656

Access Statistics for this paper

More papers in Papers from arXiv.org
Bibliographic data for series maintained by arXiv administrators ().

 
Page updated 2023-12-05
Handle: RePEc:arx:papers:2105.03656