“Revisiting the social cost of carbon” (2017), by William D. Nordhaus. Economics research paper. Original abstract below, unchanged. No free PDF was found.

Revisiting the social cost of carbon

William D. Nordhaus · January 31, 2017 · Economics

Abstract

Significance The most important single economic concept in the economics of climate change is the social cost of carbon (SCC). At present, regulations with more than $1 trillion of benefits have been written for the United States that use the SCC in their economic analysis. The DICE model (Dynamic Integrated model of Climate and the Economy) is one of three integrated assessment models used to estimate the SCC in the United States. The present study presents updated estimates based on a revised DICE model (DICE-2016R). The study estimates that the SCC is $31 per ton of CO 2 in 2010 US$ for the current period (2015). This study will be an important step in developing the next generation of estimates of the SCC in the United States and other countries.

Source page DOI: 10.1073/pnas.1609244114