Cumulative carbon emissions and economic policy: In search of general principles

By Simon Dietz, F. Venmans. Journal of Environmental Economics and Management, 2019

201 citations recorded by the source corpus.

We exploit recent advances in climate science to develop a physically consistent, yet surprisingly simple, model of climate policy. It seems that key economic models have greatly overestimated the delay between carbon emissions and warming, and ignored the saturation of carbon sinks that takes place when the atmospheric concentration of carbon dioxide rises. This has important implications for climate policy. If carbon emissions are abated, damages are avoided almost immediately. Therefore it is optimal to reduce emissions significantly in the near term and bring about a slow transition to optimal peak warming, even if optimal steady-state/peak warming is high. The optimal carbon price should start relatively high and grow relatively fast.

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

View Paper: https://www.semanticscholar.org/paper/804fe1ff62ddf5632cb3fa4135e8b9cc86433dd5

How researchers see this paper

The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.

In Economics and Econometrics

1. Xunpeng Shi
2. Longjian Yang
3. Jian Yu
4. Dongmei Guo
5. F. van der ploeg
6. Armon Rezai
7. Olimpia Neagu
8. E. Werf

In Renewable Energy, Sustainability and the Environment

1. Xunpeng Shi
2. Shaojian Chen
3. Junqin Sun
4. F. van der ploeg
5. Armon Rezai
6. Hui Mao
7. E. Werf
8. Corrado Di Maria

Citations in the corpus

• Stranded Assets in the Transition to a Carbon-Free Economy (2020, background): “The new climate science by a linear function of cumulative emissions (Allen, 2016; van der Ploeg, 2018; Dietz and Venmans, 2019).”
• Economic policy uncertainty (EPU) and firm carbon emissions: Evidence using a China provincial EPU index (2020, background): “The factors include, but are not limited to, economic policy (Dietz and Venmans, 2019), economic development (Hepburn et al., 2019; Jorgenson, 2014), foreign direct investment (Abdouli and Hammami, 2017), financial development (Boutabba, 2014; Katircioğlu and Taşpinar, 2017; Zhang, 2011), income…”
• Low-Carbon City Construction and Corporate Carbon Reduction Performance: Evidence From a Quasi-Natural Experiment in China (2021, background): “To meet the challenges of climate change, governments have formulated relevant policies and imposed carbon dioxide emissions reduction targets (Cui et al., 2019; Dietz & Venmans, 2019).”