Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/48582 
Year of Publication: 
2011
Series/Report no.: 
Economics Discussion Papers No. 2011-18
Publisher: 
Kiel Institute for the World Economy (IfW), Kiel
Abstract: 
The social cost of carbon is an estimate of the benefit of reducing CO2 emissions by one ton today. As such it is a key input into cost-benefit analysis of climate policy and regulation. We provide a set of new estimates of the social cost of carbon from the integrated assessment model FUND 3.5 and present a regional and sectoral decomposition of our new estimate. China, Western Europe and the United States have the highest share of harmful impacts, with the precise order depending on the discount rate. The most important sectors in terms of impacts are agriculture and increased energy use for cooling. We present an extensive sensitivity analysis with respect to the discount rate, equity weights, different socio economic scenarios and values for the climate sensitivity parameter.
Subjects: 
Climate change
social cost of carbon
JEL: 
Q54
Creative Commons License: 
cc-by-nc Logo
Document Type: 
Working Paper

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