Mattauch, Linus, Matthews, Damon, Millar, Richard, Rezai, Armon, Solomon, Susan, Venmans, Frank. 2020. Steering the Climate System: Comment. American Economic Review. 110 (4), 1-7.
BibTeX
Abstract
Lemoine and Rudik (2017) argue that it is efficient to delay reducing carbon emissions, due to supposed inertia in the climate system's response to emissions. This conclusion rests upon misunderstanding the relevant Earth system modelling: there is no substantial lag between CO2 emissions and warming. Applying a representation of the Earth system that captures the range of responses seen in complex Earth System Models invalidates the original article's implications for climate policy. The least-cost policy path that limits warming to 2°C implies that the carbon price starts high and increases at the interest rate. It cannot rely on climate inertia to delay reducing and allow greater cumulative emissions.
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| Status of publication | Published |
|---|---|
| Affiliation | WU |
| Type of publication | Journal article |
| Journal | American Economic Review |
| Citation Index | SSCI |
| WU Journalrating 2009 | A+ |
| Starjournal | Y |
| Language | German |
| Title | Steering the Climate System: Comment |
| Volume | 110 |
| Number | 4 |
| Year | 2020 |
| Page from | 1 |
| Page to | 7 |
| DOI | https://doi.org/10.1257/aer.20190089 |
| Open Access | N |
Associations
- People
- Rezai, Armon (Details)
- External
- Mattauch, Linus (University of Oxford, United Kingdom)
- Matthews, Damon (Concordia University, Canada)
- Millar, Richard (University of Oxford, United Kingdom)
- Solomon, Susan (MIT, United States/USA)
- Venmans, Frank (University of Mons, Belgium)
- Organization
- Competence Center for Sustainability Transformation and Responsibility WE (Details)
- Economics of Inequality FI (Details)
- Socioeconomics of Work Group AB (Details)
- Research areas (ÖSTAT Classification 'Statistik Austria')
- 2928 Environmental economics (Details)
- 5325 Political economics (Details)
- 5334 Political economic policy (Details)
- 5335 Political economic theory (Details)
- 5341 Economic policy (Details)
- 5353 Environmental economics (Details)
- 5924 Environmental economics (Details)