Developing a Social Cost of Carbon for US Regulatory Analysis: A Methodology and Interpretation
Name
Greenstone-Kopits-Wolverton-pre pub version.pdf
Description
main article
Size
335.7 KB
Format
Adobe PDF
Checksum (MD5)
4e72d4a206249041f6db565df9652f5c
Author(s)
Greenstone, Michael
Kopits, Elizabeth
Wolverton, Ann
Date Issued
January 2013
Journal
Review of Environmental Economics and Policy
Publisher
Oxford University Press
Citation
Greenstone, M., E. Kopits, and A. Wolverton. “Developing a Social Cost of Carbon for US Regulatory Analysis: A Methodology and Interpretation.” Review of Environmental Economics and Policy 7, no. 1 (January 1, 2013): 23–46.
Version
Author's final manuscript
Abstract
The US government recently developed a range of values representing the monetized global damages associated with an incremental increase in carbon dioxide (CO[subscript 2]) emissions, commonly referred to as the social cost of carbon (SCC). These values are currently used in benefit–cost analyses to assess potential federal regulations. For 2010, the central value of the SCC is $21 per ton of CO[subscript 2] emissions, with sensitivity analyses to be conducted at $5, $35, and $65 per ton of CO[subscript 2] (2007 dollars). This article summarizes the methodology and interagency process used to develop these SCC values, offers our own commentary on how the SCC can be used to inform regulatory decisions, and identifies priorities for further research. (JEL: Q54, Q51, and Q58)
MIT Department
Massachusetts Institute of Technology. Department of Economics
Terms of Use
Creative Commons Attribution-Noncommercial-Share Alike
Persistent DSpace Link
DOI of Published Version
https://doi.org/10.1093/reep/res015
