Arbeitspapier
Closed-Form Integrated Assessment and Uncertainty
The paper derives the optimal carbon tax in closed-form from an integrated assessment of climate change. The formula shows how carbon, temperature, and economic dynamics quantify the optimal mitigation effort. The model’s descriptive power is comparable to numeric models used in policy advising. Uncertainty surrounding climate change remains large. The closed-form expressions of welfare loss from shocks and epistemological uncertainty identify the interaction of (intertemporal) risk attitude, distributional moments, and the climatic shadow values. Welfare gains from reducing uncertainty about temperature feedbacks are much higher than the gains from better measurements of carbon flows.
- Sprache
-
Englisch
- Erschienen in
-
Series: CESifo Working Paper ; No. 5464
- Klassifikation
-
Wirtschaft
Climate; Natural Disasters and Their Management; Global Warming
Project Evaluation; Social Discount Rate
General Aggregative Models: Neoclassical
Criteria for Decision-Making under Risk and Uncertainty
Micro-Based Behavioral Economics: General‡
Allocative Efficiency; Cost-Benefit Analysis
- Thema
-
climate change
integrated assessment
uncertainty
learning
risk aversion
recursive utility
social cost of carbon
carbon tax
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Traeger, Christian
- Ereignis
-
Veröffentlichung
- (wer)
-
Center for Economic Studies and ifo Institute (CESifo)
- (wo)
-
Munich
- (wann)
-
2015
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:44 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Traeger, Christian
- Center for Economic Studies and ifo Institute (CESifo)
Entstanden
- 2015
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