Estimating the Social Cost of Carbon for Use in U.S. Federal Rulemakings: A Summary and Interpretation

@article{Greenstone2011EstimatingTS,
  title={Estimating the Social Cost of Carbon for Use in U.S. Federal Rulemakings: A Summary and Interpretation},
  author={Michael Greenstone and Elizabeth Kopits and Maryann Wolverton},
  journal={SRPN: Carbon Trading (Socially) (Topic)},
  year={2011}
}
The United States Government recently concluded a year-long process to develop a range of values representing the monetized damages associated with an incremental increase in carbon dioxide (CO2) emissions, commonly referred to as the social cost of carbon (SCC). These values are currently used in benefit-cost analyses to assess potential federal regulations. For 2010, the central value of the SCC is $21 per ton of CO2 emissions and sensitivity analyses are to be conducted at $5, $35, and $65… Expand
Estimates of the Social Cost of Carbon: Concepts and Results from the DICE-2013R Model and Alternative Approaches
  • W. Nordhaus
  • Economics
  • Journal of the Association of Environmental and Resource Economists
  • 2014
The social cost of carbon (SCC) is an important concept for understanding and implementing climate change policies. This term represents the economic cost caused by an additional ton of carbonExpand
Integrated assessment of climate change: state of the literature
  • J. Weyant
  • Economics
  • Journal of Benefit-Cost Analysis
  • 2014
Abstract This paper reviews applications of benefit-cost analysis (BCA) in climate policy assessment at the US national and global scales. Two different but related major application types areExpand
Evaluating the Key Drivers of the US Government's Social Cost of Carbon: A Model Diagnostic and Inter-Comparison Study of Climate Impacts in DICE, FUND, and PAGE
The social cost of carbon (SCC) is a monetary estimate of the climate change damages to society from an additional emission of carbon dioxide (CO2). US agencies are now required to apply the SCC toExpand
A Cost-benefit Analysis of the Australian Carbon Tax and the Economics of Climate Change
Within economic literature, the topic of global warming and efforts to mitigate it are being thoroughly discussed. The ability for climate change to impact businesses and households globally hasExpand
Beyond the Social Cost of Carbon: The Real Economic Lessons About the Determinants of Harm from Changing Climate and Their Implications for Climate Policy
As a measure of the marginal benefits of EPA regulations mandating reductions in greenhouse gas emissions, the social cost of carbon (SCC) has been important in the regulatory process leading to theExpand
Carbon Emissions and Cost Benefit Analyses
New infrastructure projects may affect CO2 emissions and, thus, cost benefit analyses for these projects require a value to apply for CO2. This may be based on the marginal social cost of emissionsExpand
Unintended Consequences of Transportation Carbon Policies: Land-Use, Emissions, and Innovation
Renewable fuel standards, low carbon fuel standards, and ethanol subsidies are popular policies to incentivize ethanol production and reduce emissions from transportation. Compared to carbon trading,Expand
Unintended Consequences of Carbon Policies: Transportation Fuels, Land-Use, Emissions, and Innovation
Renewable fuel standards, low carbon fuel standards, and ethanol subsidies are popular policies to incentivize ethanol production and reduce emissions from transportation. Compared to carbon trading,Expand
Green Expectations: Current Effects of Anticipated Carbon Pricing
  • D. Lemoine
  • Economics
  • Review of Economics and Statistics
  • 2017
Abstract I report evidence that an anticipated strengthening of environmental policy increased emissions. I find that the breakdown of the U.S. Senate's 2010 climate effort generated positive excessExpand
On Not Revisiting Official Discount Rates: Institutional Inertia and the Social Cost of Carbon
Within the federal government, official decisions are a product of both substantive judgments and institutional constraints. With respect to discounting, current practice is governed by OMB CircularExpand
...
1
2
3
4
5
...

References

SHOWING 1-10 OF 68 REFERENCES
Hidden Costs of Energy: Unpriced Consequences of Energy Production and Use
TLDR
The Hidden Costs of Energy, which provides quantitative, qualitative, and in some cases monetized estimates of these external damages from the use of energy for electricity, transportation, heat, and infrastructure and security, is produced. Expand
Estimates of the Damage Costs of Climate Change. Part 1: Benchmark Estimates
  • R. Tol
  • Environmental Science
  • 2002
A selection of the potential impacts of climate change – on agriculture,forestry, unmanaged ecosystems, sea level rise, human mortality, energyconsumption, and water resources – are estimated andExpand
On the Economics of Climate Policy
Abstract We analyze the central features of economic policies to mitigate climate change. The basic structure of Pigouvian “carbon pricing” is shown to follow from a standard Hotelling problem forExpand
Climate change, 1995 : economic and social dimensions of climate change
Summary for policymakers 1. Introduction: scope of the assessment 2. Decision-making frameworks for addressing climate change 3. Equity and social considerations 4. Intertemporal equity, discountingExpand
Intertemporal Equity, Discounting, and Economic Efficiency in Water Policy Evaluation
This paper addresses how the inclusion of global climate change may affect the discounting procedures used to evaluate water resources programs and projects. The primary document governing waterExpand
An analysis of mitigation as a response to climate change.
  • R. Tol
  • Environmental Science
  • 2009
pReface COPENHAGEN CONSENSUS ON CLIMATE copenhAgen consensus on climAte The Copenhagen Consensus Center has commissioned 21 papers to examine the costs and benefits of different solutions to globalExpand
Uncertain Outcomes and Climate Change Policy
I incorporate distributions for temperature change and its economic impact in an analysis of climate change policy. As a measure of willingness to pay (WTP), I estimate the fraction of consumptionExpand
Social discount rates for member countries of the European Union
Purpose – This paper sets out to estimate discount rates for EU members, on a consistent time preference basis, for application in the appraisal of social projects. The value of the discount rate canExpand
Stern Review: The Economics of Climate Change
The Review's executive summary states that "the Review first examines the evidence on the economic impacts of climate change itself, and explores the economics of stabilizing greenhouse gases in theExpand
The marginal impact of CO2 from PAGE2002: An integrated assessment model incorporating the IPCC's five reasons for concern
This paper introduces a new version of the PAGE model, PAGE2002, which includes all five of the IPCC’s reasons for concern about climate change. Calculations with PAGE2002 give the mean marginalExpand
...
1
2
3
4
5
...