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The marginal cost of CO2 emissions

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  • Azar, Christian

Abstract

Haraden's model for estimating the economic cost of global warming is analysed. We change his method of discounting and some of his input parameters in a manner consistent with physical and economic theory as well as empirical data. We then find much higher costs than Haraden found. These costs are compared to the cost of reducing CO2 emissions and we find that deep cuts of the emissions of CO2 are preferable. A check of the sensitivity of our results with respect to some crucial parameter values does not alter that conclusion.

Suggested Citation

  • Azar, Christian, 1994. "The marginal cost of CO2 emissions," Energy, Elsevier, vol. 19(12), pages 1255-1261.
    • Handle: RePEc:eee:energy:v:19:y:1994:i:12:p:1255-1261
    DOI: 10.1016/0360-5442(94)90028-0
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    References listed on IDEAS

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    1. William R. Cline, 1992. "Economics of Global Warming, The," Peterson Institute Press: All Books, Peterson Institute for International Economics, number 39, April.
    2. Olivier Jean Blanchard & Stanley Fischer, 1989. "Lectures on Macroeconomics," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262022834, December.
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    1. Havranek, Tomas & Irsova, Zuzana & Janda, Karel & Zilberman, David, 2015. "Selective reporting and the social cost of carbon," Energy Economics, Elsevier, vol. 51(C), pages 394-406.
    2. Tol, Richard S.J., 2013. "Targets for global climate policy: An overview," Journal of Economic Dynamics and Control, Elsevier, vol. 37(5), pages 911-928.
    3. Plambeck, Erica L & Hope, Chris, 1996. "PAGE95 : An updated valuation of the impacts of global warming," Energy Policy, Elsevier, vol. 24(9), pages 783-793, September.
    4. Plambeck, Erica L. & Hope, Chris & Anderson, John, 1997. "The model: Integrating the science and economics of global warming," Energy Economics, Elsevier, vol. 19(1), pages 77-101, March.
    5. Richard S.J. Tol, 2021. "Estimates of the social cost of carbon have not changed over time," Working Paper Series 0821, Department of Economics, University of Sussex Business School.
    6. Azar, Christian & Holmberg, John, 1995. "Defining the generational environmental debt," Ecological Economics, Elsevier, vol. 14(1), pages 7-19, July.
    7. Richard S. J. Tol, 2021. "Estimates of the social cost of carbon have increased over time," Papers 2105.03656, arXiv.org, revised Aug 2022.

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