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Simple rules for climate policy and integrated assessment

Abstract:

A simple integrated assessment framework that gives rules for the optimal carbon price, transition to the carbon-free era and stranded carbon assets is presented, which highlights the ethical, economic, geophysical and political drivers of optimal climate policy. For the ethics we discuss the role of intergenerational inequality aversion and the discount rate, where we show the importance of lower discount rates for appraisal of longer run benefit and of policy makers using lower discount rat...

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Publication status:
Published

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Publisher:
University of Oxford
Series:
OxCarre Papers
Publication date:
2018-08-15
Paper number:
213
Keywords:
Pubs id:
1143523
Local pid:
pubs:1143523
Deposit date:
2020-12-14

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