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Carbon Prices for the Next Hundred Years

1st Person: Gerlagh, Reyer
Additional Persons: Liski, Matti
Type of Publication: Paper
Language: English
Published: Center for Economic Studies and Ifo Institute (CESifo) 2014
Series: CESifo Working Paper
Online: https://www.econstor.eu/bitstream/10419/93437/1/cesifo_wp4671.pdf
id
oai_econstor.eu_10419-93437
recordtype
econstor
institution
MPG
collection
ECONSTOR
title
Carbon Prices for the Next Hundred Years
spellingShingle
Carbon Prices for the Next Hundred Years
Gerlagh, Reyer
CESifo Working Paper
title_short
Carbon Prices for the Next Hundred Years
title_full
Carbon Prices for the Next Hundred Years
title_fullStr
Carbon Prices for the Next Hundred Years
title_full_unstemmed
Carbon Prices for the Next Hundred Years
title_sort
Carbon Prices for the Next Hundred Years
format
electronic Article
format_phy_str_mv
Paper
publisher
Center for Economic Studies and Ifo Institute (CESifo)
publishDate
2014
language
English
author
Gerlagh, Reyer
author2
Liski, Matti
author2Str
Liski, Matti
description
World income grows fast without verifiable climate-change impacts on the economy. The growth spell can end if climate impacts turn real but this can take decades to learn. We develop a tractable stochastic climate-economy model with a hidden-state impact process to evaluate the contributions of the expanding economy and changing impact beliefs to the social cost of carbon. Taking a dataset of estimates for the social cost as a representation of beliefs, we assess how robust climate policies are to the delays of hard information. The carbon price should rise with income to the next century, even without observed impacts. The carbon price should grow faster than the economy as long as climate warming is not enough for generating impacts that are informative about the true social cost.
url
https://www.econstor.eu/bitstream/10419/93437/1/cesifo_wp4671.pdf
series
CESifo Working Paper
seriesStr
CESifo Working Paper
CESifo Working Paper
series2
CESifo Working Paper
series2_facet
CESifo Working Paper
up_date
2019-04-19T02:50:15.198Z
_version_
1631209108170342403

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