Climate. To hedge or not against an uncertain climate future?

  title={Climate. To hedge or not against an uncertain climate future?},
  author={Gary W. Yohe and Natasha G. Andronova and Michael Schlesinger},
  volume={306 5695},
I t has been over a decade since Nordhaus (1) published his seminal paper on mitigation policy for climate change. His question was “To slow or not to slow?”; his answer was derived from a traditional costbenefit approach. He found that a tax levied on fossil fuel in proportion to its carbon content, which would climb over time at roughly the rate of interest, maximized global welfare. Although many more analyses of the same question have since been published, his results are still robust if… CONTINUE READING
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