Governments across the world are coming under increasing pressure to invest heavily in
projects that have maturities of decades or even centuries. Key areas of concern include …

Estimates of the social cost of carbon are the yardstick for climate policy targets. However,
there is great uncertainty and we do not know how estimates have evolved over time. Here I …

The social cost of carbon is the expected present value of damages from emitting one ton of
carbon today. We use perturbation theory to derive an approximate tractable expression for …

To analyse climate change mitigation strategies, economists rely on simplified climate
models—so-called climate emulators—that provide a realistic quantitative link between CO …

This paper provides a critical review of the literature on choosing social discount rates
(SDRs) for public cost-benefit analysis. We discuss two dominant approaches, the first …

Climate change not only impacts production and market consumption but also the relative
scarcity of nonmarket goods, such as environmental amenities. We study fundamental …

Understanding what influences the value of nature is crucial for informing environmental
policy. From a sustainability perspective, economic valuation should not only seek to …

The social cost of carbon is a central metric for optimal carbon prices. Previous literature
shows that inequality significantly influences the social cost of carbon, but mostly omits …

The general equilibrium model developed by Golosov et al.(2014), GHKT for short, is
modified to allow for additional negative impacts of global warming on utility and productivity …

A simple integrated assessment framework that gives rules for the optimal carbon price,
transition to the carbon-free era and stranded carbon assets is presented, which highlights …