The Social Cost of Carbon: Trends, Outliers and Catastrophes

24 Pages Posted: 18 Dec 2010

See all articles by Richard S. J. Tol

Richard S. J. Tol

VU University Amsterdam - Institute for Environmental Studies (IVM); Carnegie Mellon University - Center for Integrated Study of the Human Dimensions of Global Change; University of Hamburg - Centre for Marine and Climate Research (ZMK); Princeton University

Multiple version iconThere are 2 versions of this paper

Date Written: 2008

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

JEL Classification: Q54

Suggested Citation

Tol, Richard S. J., The Social Cost of Carbon: Trends, Outliers and Catastrophes (2008). Economics: The Open-Access, Open-Assessment E-Journal, Vol. 2, 2008-25. Available at SSRN: https://ssrn.com/abstract=1726820 or http://dx.doi.org/10.5018/economics-ejournal.ja.2008-25

Richard S. J. Tol (Contact Author)

VU University Amsterdam - Institute for Environmental Studies (IVM) ( email )

De Boelelaan 1115
Amsterdam, 1081 HV
Netherlands
+31 20 444 9555 (Phone)
+31 20 444 9553 (Fax)

Carnegie Mellon University - Center for Integrated Study of the Human Dimensions of Global Change

Pittsburgh, PA 15213-3890
United States

University of Hamburg - Centre for Marine and Climate Research (ZMK)

Troplowitzstrasse 7
D-22529 Hamburg
Germany

Princeton University ( email )

22 Chambers Street
Princeton, NJ 08544-0708
United States

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