THE SOCIAL COST OF CARBON: TRENDS, OUTLIERS AND CATASTROPHES

Richard Tol

No FNU-144, Working Papers from Research unit Sustainability and Global Change, Hamburg University

Abstract: 211 estimates of the social cost of carbon are included in a meta-analysis. The results confirm that a lower discount rate implies a higher estimate; and that higher estimates are found in the gray literature. It is also found that there is a downward trend in the economic impact estimates of the climate; that the Stern Review’s estimates of the social cost of carbon is an outlier; and that the right tail of the distribution is fat. There is a fair chance that the annual climate liability exceeds the annual income of many people.

Keywords: climate change; social cost of carbon (search for similar items in EconPapers)
JEL-codes: Q54 (search for similar items in EconPapers)
Pages: 27 pages
Date: 2007-08, Revised 2007-08
New Economics Papers: this item is included in nep-ene and nep-env
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Citations: View citations in EconPapers (24)

Forthcoming, Economics the ejournal

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Related works:
Journal Article: The Social Cost of Carbon: Trends, Outliers and Catastrophes (2008)
Working Paper: The Social Cost of Carbon: Trends, Outliers and Catastrophes (2007)
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Persistent link: https://EconPapers.repec.org/RePEc:sgc:wpaper:144

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