My da|ra Login

Detailed view

metadata language: English

Replication data for: Steering the Climate System: Using Inertia to Lower the Cost of Policy

Version
V0
Resource Type
Dataset
Creator
  • Lemoine, Derek
  • Rudik, Ivan
Publication Date
2017-10-01
Description
  • Abstract

    Common views hold that the efficient way to limit warming to a chosen level is to price carbon emissions at a rate that increases exponentially. We show that this Hotelling tax on carbon emissions is actually inefficient. The least-cost policy path takes advantage of the climate system's inertia to delay reducing emissions and allow greater cumulative emissions. The efficient carbon tax follows an inverse-U-shaped path and grows more slowly than the Hotelling tax. Economic models that assume exponentially increasing carbon taxes are overestimating the cost of limiting warming, overestimating the efficient near-term carbon tax, and overvaluing technologies that mature sooner.
Availability
Download
Relations
  • Is supplement to
    DOI: 10.1257/aer.20150986 (Text)
Publications
  • Lemoine, Derek, and Ivan Rudik. “Steering the Climate System: Using Inertia to Lower the Cost of Policy.” American Economic Review 107, no. 10 (October 2017): 2947–57. https://doi.org/10.1257/aer.20150986.
    • ID: 10.1257/aer.20150986 (DOI)

Update Metadata: 2020-05-18 | Issue Number: 2 | Registration Date: 2019-10-12

Lemoine, Derek; Rudik, Ivan (2017): Replication data for: Steering the Climate System: Using Inertia to Lower the Cost of Policy. Version: V0. ICPSR - Interuniversity Consortium for Political and Social Research. Dataset. https://doi.org/10.3886/E113076