Developing a Social Cost of Carbon for US Regulatory Analysis: A Methodology and Interpretation
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...
| Main Authors: | , , |
|---|---|
| Other Authors: | |
| Format: | Article |
| Language: | en_US |
| Published: |
Oxford University Press
2014
|
| Online Access: | http://hdl.handle.net/1721.1/85655 |
| _version_ | 1826211650540142592 |
|---|---|
| author | Greenstone, Michael Kopits, Elizabeth Wolverton, Ann |
| author2 | Massachusetts Institute of Technology. Department of Economics |
| author_facet | Massachusetts Institute of Technology. Department of Economics Greenstone, Michael Kopits, Elizabeth Wolverton, Ann |
| author_sort | Greenstone, Michael |
| collection | MIT |
| description | 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) |
| first_indexed | 2024-09-23T15:09:21Z |
| format | Article |
| id | mit-1721.1/85655 |
| institution | Massachusetts Institute of Technology |
| language | en_US |
| last_indexed | 2024-09-23T15:09:21Z |
| publishDate | 2014 |
| publisher | Oxford University Press |
| record_format | dspace |
| spelling | mit-1721.1/856552022-09-29T13:03:05Z Developing a Social Cost of Carbon for US Regulatory Analysis: A Methodology and Interpretation Greenstone, Michael Kopits, Elizabeth Wolverton, Ann Massachusetts Institute of Technology. Department of Economics Greenstone, Michael Greenstone, Michael 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) 2014-03-14T19:56:28Z 2014-03-14T19:56:28Z 2013-01 Article http://purl.org/eprint/type/JournalArticle 1750-6816 1750-6824 http://hdl.handle.net/1721.1/85655 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. en_US http://dx.doi.org/10.1093/reep/res015 Review of Environmental Economics and Policy Creative Commons Attribution-Noncommercial-Share Alike http://creativecommons.org/licenses/by-nc-sa/4.0/ application/pdf Oxford University Press Greenstone via Kate McNeill |
| spellingShingle | Greenstone, Michael Kopits, Elizabeth Wolverton, Ann Developing a Social Cost of Carbon for US Regulatory Analysis: A Methodology and Interpretation |
| title | Developing a Social Cost of Carbon for US Regulatory Analysis: A Methodology and Interpretation |
| title_full | Developing a Social Cost of Carbon for US Regulatory Analysis: A Methodology and Interpretation |
| title_fullStr | Developing a Social Cost of Carbon for US Regulatory Analysis: A Methodology and Interpretation |
| title_full_unstemmed | Developing a Social Cost of Carbon for US Regulatory Analysis: A Methodology and Interpretation |
| title_short | Developing a Social Cost of Carbon for US Regulatory Analysis: A Methodology and Interpretation |
| title_sort | developing a social cost of carbon for us regulatory analysis a methodology and interpretation |
| url | http://hdl.handle.net/1721.1/85655 |
| work_keys_str_mv | AT greenstonemichael developingasocialcostofcarbonforusregulatoryanalysisamethodologyandinterpretation AT kopitselizabeth developingasocialcostofcarbonforusregulatoryanalysisamethodologyandinterpretation AT wolvertonann developingasocialcostofcarbonforusregulatoryanalysisamethodologyandinterpretation |