4 papers
The Weitzman Premium on the Social Cost of Carbon
Jinchi Dong, Richard S. J. Tol, Fangzhi Wang
Preference heterogeneity massively increases the social cost of carbon. We call this the Weitzman premium. Uncertainty about an exponential discount rate implies a hyperbolic disco…
Conceptual winsorizing: An application to the social cost of carbon
Richard S. J. Tol
There are many published estimates of the social cost of carbon. Some are clear outliers, the result of poorly constrained models. Percentile winsorizing is an option, but I here p…
Meta-emulation: An application to the social cost of carbon
Richard S. J. Tol
A large database of published model results is used to estimate the distribution of the social cost of carbon as a function of the underlying assumptions. The literature on the soc…
The Effects of Climate and Weather on Economic Output: Evidence from Global Subnational Data
Jinchi Dong, Richard S. J. Tol, Jinnan Wang
Estimating the effects of climate on economic output is crucial for formulating climate policy, but current empirical findings remain ambiguous. Using annual panel model and panel…