A social cost of carbon for (almost) every country

By Richard S. J. Tol. Energy Economics, 2019

127 citations recorded by the source corpus.

This paper uses imputed national climate change impact functions to estimate national social costs of carbon, which are largest in poor countries with large populations. The national social costs of carbon of faster growing economies are less sensitive to the pure rate of time preference and more sensitive to the rate of risk aversion. The pattern of national social costs of carbon is not sensitive to the assumed impact function, climate sensitivity, and scenario, although the global social cost of carbon is. Income convergence raises the national social costs of carbon of poorer countries, and lowers them for richer countries. Both global and national social costs of carbon are most sensitive to the income elasticity of climate change impacts, a parameter about which we know little.

Subfields: Economics and Econometrics, Renewable Energy, Sustainability and the Environment

View Paper: https://www.semanticscholar.org/paper/600ef4d15a386baa320587ce69bc0dc4401f90d6

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In Economics and Econometrics

In Renewable Energy, Sustainability and the Environment

Citations in the corpus

A Meta-Analysis of the Total Economic Impact of Climate Change (2022, methodology): “(Tol, 2019a) shows that this is more robust than estimating national impact functions.”