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- Title
Seven Recommendations for Pricing Greenhouse Gas Emissions.
- Authors
Fraas, Arthur G.; Graham, John D.; Krutilla, Kerry M.; Lutter, Randall; Shogren, Jason F.; Thunström, Linda; Viscusi, W. Kip
- Abstract
The social cost of greenhouse gases is important in many regulatory impact analyses. However, calculations of the social cost of greenhouse gases are highly complex and periodically revisited. We offer seven recommendations to improve current estimates. These include recommendations to use both country-level and global measures of the social cost of greenhouse gases, to use country-specific values for monetizing climate damages, to represent uncertainties by reporting distributions instead of using only central values, and to conduct a temporal distributional analysis that shows the magnitudes of climate damages across generations. We also provide recommendations for the discount rates that should be used when estimating the social cost of greenhouse gases, and the appropriate discount rates for regulatory impact analyses that include the social cost of greenhouse gases.
- Subjects
UNITED States. Environmental Protection Agency; GREENHOUSE gases; REGULATORY impact analysis; EXTERNALITIES; GAS prices; DISCOUNT prices
- Publication
Journal of Benefit-Cost Analysis, 2023, Vol 14, Issue 2, p191
- ISSN
2152-2812
- Publication type
Article
- DOI
10.1017/bca.2023.31