Technically, the Social Cost of Carbon Dioxide (SC-CO₂), and the social cost of other greenhouse gases such as methane (SC-CH₄, or SCM) or nitrous oxide (SC-N₂O, or SCN).
With its fixation on equilibrium thinking and an exclusive focus on market factors that can be precisely measured, the neoclassical orthodoxy in economics is fundamentally unequipped to deal with today's biggest problems. Change within the discipline is underway, but it cannot come fast enough.
The green transition comes with costs; but they are well worth it, and they pale in comparison to the costs of inaction. The ever-falling costs of renewables have not eliminated the politics of climate change. But they certainly have made our choices much easier.
The science is ripe to update estimates of CO2 emissions costs. Calls to scrap the calculation are misguided.
Federal Reserve Bank of San Francisco
By Kelly Macnamara & Marlowe Hood/Agence France-Presse
by Gernot Wagner, David Anthoff, Maureen Cropper, Simon Dietz, Kenneth T. Gillingham, Ben Groom, J. Paul Kelleher, Frances C. Moore, and James H. Stock
The U.S. is updating a number with the potential to push federal regulations into overdrive.
Spring 2021
NYU Wagner workshop organized by Jesse D. Jenkins, Leah Stokes, and Gernot Wagner
NYU Wagner
The Numbers Behind Exxon’s Support for a Carbon Tax
If $40/t CO₂ were the "right" price, tax carbon and move on. $40/t isn't the right price. The Exxon-backed tax isn't it.
Special session in memory of Martin L. Weitzman
Uncertainty is not our friend
A $40 carbon dioxide price? Try $100, $200, or possibly more.
by J. Paul Kelleher and Gernot Wagner
by J. Paul Kelleher and Gernot Wagner
Klimaschock Gespräch mit Joseph Gepp
New York University Stern School of Business
