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The impact of climate damage function on the social cost of carbon and economic growth rate
Mitigation and Adaptation Strategies for Global Change ( IF 2.5 ) Pub Date : 2019-12-05 , DOI: 10.1007/s11027-019-09908-y
Zaili Zhen , Lixin Tian

This paper analyzes the impact of climate damage function on the social cost of carbon (SCC) and the economic growth rate. In a two-sector economic model with endogenous growth, we construct a 7-dimensional nonlinear system and then linearize the nonlinear system to derive the expression of the SCC containing the damage function. We find that the selected damage function has significant impacts when we calculate the SCC. In our model, the long run SCC per unit of output is the discount flow of the damage function caused by temperature rise and it is also affected by temperature adjustment rate and some other parameters. The specific form of damage function directly affects the social evaluation of the externality of pollution. The concavity of the SCC in the time path depends on second derivative of the damage function in infinite time. Higher-order damage function increase the SCC. We find that when the society is in an optimal state, the long-term economic growth rate can still be guaranteed to be positive when the convex damage function is chosen. The key of mitigation and adaptation strategies is the development of effective climate policies. Thus, as global recommendations for mitigation and adaptation strategies, we recommendation policy makers to use a highly convex damage function to calculate the SCC. We suggest policy makers consider carbon tax policies based on SCC. This makes the economic view of pollution closer to the mitigation target of climate policy-makers.



中文翻译:

气候损害功能对碳的社会成本和经济增长率的影响

本文分析了气候破坏功能对碳的社会成本(SCC)和经济增长率的影响。在具有内生增长的两部门经济模型中,我们构造了一个7维非线性系统,然后将其非线性化,以得出包含损伤函数的SCC表达式。我们发现,在计算SCC时,选定的损伤函数具有重大影响。在我们的模型中,每单位输出的长期SCC是温度升高引起的损伤函数的折现流,并且还受温度调节率和其他一些参数的影响。损害函数的特定形式直接影响对污染外部性的社会评价。SCC在时间路径上的凹度取决于无限时间内损伤函数的二阶导数。高阶破坏函数会增加SCC。我们发现,当社会处于最佳状态时,选择凸破坏函数仍可以保证长期经济增长率为正。缓解和适应战略的关键是制定有效的气候政策。因此,作为缓解和适应策略的全球建议,我们建议政策制定者使用高度凸的破坏函数来计算SCC。我们建议政策制定者考虑基于SCC的碳税政策。这使污染的经济观点更接近气候政策制定者的减排目标。缓解和适应战略的关键是制定有效的气候政策。因此,作为缓解和适应策略的全球建议,我们建议政策制定者使用高度凸的破坏函数来计算SCC。我们建议政策制定者考虑基于SCC的碳税政策。这使污染的经济观点更接近气候政策制定者的减排目标。缓解和适应战略的关键是制定有效的气候政策。因此,作为缓解和适应策略的全球建议,我们建议政策制定者使用高度凸的破坏函数来计算SCC。我们建议政策制定者考虑基于SCC的碳税政策。这使污染的经济观点更接近气候政策制定者的减排目标。

更新日期:2020-04-22
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