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The U.S. Government’s social cost of carbon estimates after their first year: pathways for improvement

8th June 2011

Topic(s): Economics, Social cost

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. This paper examines a number of the limitations of the estimates identified in the U.S. government report and elsewhere and review recent advances that could pave the way for improvements. It considers in turn socioeconomic scenarios, treatment of physical climate response, damage estimates, ways of incorporating risk aversion, and consistency between SCC estimates and broader climate policy.

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The U.S. Government’s social cost of carbon estimates after their first year: pathways for improvement

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