The U.S. Government's Social Cost of Carbon Estimates after Their First Two Years: Pathways for Improvement

43 Pages Posted: 13 May 2012

See all articles by Robert E. Kopp

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: 2012

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, the authors examine a number of limitations of the estimates identified in the U.S. government report and elsewhere and review recent advances that could pave the way for improvements. The authors consider in turn socio-economic 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, integrated assessment modeling

JEL Classification: Q54, Q58

Suggested Citation

Kopp, Robert E. and Mignone, Bryan K., The U.S. Government's Social Cost of Carbon Estimates after Their First Two Years: Pathways for Improvement (2012). Economics: The Open-Access, Open-Assessment E-Journal, Vol. 6, 2012-15. Available at SSRN: https://ssrn.com/abstract=2056946 or http://dx.doi.org/10.5018/economics-ejournal.ja.2012-15

Robert E. Kopp (Contact Author)

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

Register to save articles to
your library

Register

Paper statistics

Downloads
78
Abstract Views
398
rank
309,513
PlumX Metrics