Regional and Sectoral Estimates of the Social Cost of Carbon: An Application of FUND

David Anthoff (), Steven K. Rose, Richard Tol and Stephanie Waldhoff

No WP375, Papers from Economic and Social Research Institute (ESRI)

Abstract: The social cost of carbon is an estimate of the benefit of reducing CO2 emissions by one ton today. As such it is a key input into cost-benefit analysis of climate policy and regulation. We provide a set of new estimates of the social cost of carbon from the integrated assessment model FUND 3.5 and present a regional and sectoral decomposition of our new estimate. China, Western Europe and the United States have the highest share of harmful impacts, with the precise order depending on the discount rate. The most important sectors in terms of impacts are agriculture and increased energy use for cooling. We present an extensive sensitivity analysis with respect to the discount rate, equity weights, different socio economic scenarios and values for the climate sensitivity parameter.

Keywords: cost/Social; cost; of; carbon/cost-benefit; analysis/Climate; policy/Policy/regulation/decomposition/europe/impacts/discount; rate/energy; use/equity/scenarios (search for similar items in EconPapers)
Date: 2011-02
New Economics Papers: this item is included in nep-cmp, nep-ene, nep-env, nep-eur and nep-reg
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (9)

Downloads: (external link)
https://www.esri.ie/pubs/WP375.pdf (application/pdf)

Related works:
Working Paper: Regional and sectoral estimates of the social cost of carbon: An application of FUND (2011)
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:esr:wpaper:wp375

Access Statistics for this paper

More papers in Papers from Economic and Social Research Institute (ESRI) Contact information at EDIRC.
Bibliographic data for series maintained by Sarah Burns ().