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The social cost of carbon: trends, outliers and catastrophes

12th August 2008

Topic(s): Economics, Social cost

This paper presents a meta-analysis of over 200 estimates of the social cost of carbon. The results confirm that a lower discount rate implies a higher estimate; and that higher estimates are found in the gray literature. It is also found that there is a downward trend in the economic impact estimates of the climate; that the Stern Review’s estimates of the social cost of carbon is an outlier; and that the right tail of the distribution is fat. There is a fair chance that the annual climate liability exceeds the annual income of many people.

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The social cost of carbon: trends, outliers and catastrophes

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