The US Government's Social Cost of Carbon Estimates after Their First Year: Pathways for Improvement

27 Pages Posted: 15 Dec 2011  

Robert E. Kopp

Rutgers, The State University of New Jersey - New Brunswick/Piscataway

Bryan K. Mignone

Government of the United States of America - US Department of Energy

Date Written: 2011

Abstract

In 2010, the U.S. government adopted its first consistent estimates of the social cost of carbon (SCC) for government-wide use in regulatory cost-benefit analysis. Here, we examine a number of the limitations of the estimates identified in the U.S. government report and elsewhere and review recent advances that could pave the way for improvements. We consider in turn socioeconomic scenarios, treatment of physical climate response, damage estimates, ways of incorporating risk aversion, and consistency between SCC estimates and broader climate policy.

Keywords: Climate change, social cost of carbon

JEL Classification: Q54, Q58

Suggested Citation

Kopp, Robert E. and Mignone, Bryan K., The US Government's Social Cost of Carbon Estimates after Their First Year: Pathways for Improvement (2011). Economics Discussion Paper No. 2011-16. Available at SSRN: https://ssrn.com/abstract=1972776 or http://dx.doi.org/10.2139/ssrn.1972776

Robert E. Kopp

Rutgers, The State University of New Jersey - New Brunswick/Piscataway ( email )

HOME PAGE: http://www.bobkopp.net/

Bryan K. Mignone

Government of the United States of America - US Department of Energy

1000 Independence Ave. SW
Washington, DC 20585
United States

Paper statistics

Downloads
16
Abstract Views
146