Although, based on the same data set, different model specifications can result in significant discrepancies in estimates. Given that damage cost estimates are very important for the optimal policy solution for IAMs, it is not surprising that our results respond to these model specifications. However, given that three out of four model specifications imply an economically optimal temperature target of 2oC or less for a climate sensitivity of 2.9oC, we believe that our results are relatively robust compared to the different specifications of the BHM model. Nordhaus, W. D. Revisiting the social cost of carbon. Proc. Natl Acad. Sci. 114, 1518–1523 (2017).
Dayaratna and his group concluded that the Paris agreement “will result in a loss of more than $2,500 billion in GDP by 2035,” which would be a 20-year period, not a 10-year period, as Mr. Trump said. GDP or gross domestic product is a measure of a country`s economic performance. En bref, pour chaque pas de temps t, s (t = 1, « ldots, 600″”T_”””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””” » (« mathrm »). (j_ `mathrm`last`) is that the functional value of `(f`t)` (j_ `mathrm`last)`) is now in “mathrm` Delta “T_ `mathrm`ATM` and is not defined in t. Like the function of `(f (t)` (j_ `j_ last`)`, this function is discreet in 600 points. In the simulations, we interpolate this function linearly between these points. This procedure has the advantage of not having to make assumptions, as opposed to an approximation that would require a prescription of a functional form of close function, and not to lose the precision obtained iteratively. In addition, the function is interpolated between a sufficient number of points to maintain the non-linearity of the function despite linear interpolation. This new function replaces the cost of claims function in the directive`s circuits. Williams told us that economists take into account several factors in choosing the specific CO2 tax rate that should be used in estimating economic impact. Economists could use what he called a “politically viable” tax rate based on a carbon tax already proposed by a politician.
They could also use a carbon tax rate linked to the social cost of carbon for a given country or region, as the authors of the Heritage Foundation did. Or economists could use a CO2 tax rate that would be necessary to achieve a specific emissions target.