211 estimates of the social cost of carbon are included in a meta-analysis. The results confirm that a lower discount rate implies a higher estimate; and that higher estimates are found in the gray literature. It is also found that there is a downward trend in the economic impact estimates of the climate; that the Stern Review's estimates of the social cost of carbon is an outlier; and that the right tail of the distribution is fat. There is a fair chance that the annual climate liability exceeds the annual income of many people.
CITATION STYLE
Tol, R. S. J. (2012). The Social Cost of Carbon: Trends, Outliers and Catastrophes. SSRN Electronic Journal. https://doi.org/10.2139/ssrn.1716668
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