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  The social cost of carbon and inequality: When local redistribution shapes global carbon prices

Kornek, U., Klenert, D., Edenhofer, O., Fleurbaey, M. (2021): The social cost of carbon and inequality: When local redistribution shapes global carbon prices. - Journal of Environmental Economics and Management, 107, 102450.
https://doi.org/10.1016/j.jeem.2021.102450

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 ???ViewItemFull_lblCreators???:
Kornek, Ulrike1, ???ENUM_CREATORROLE_AUTHOR???
Klenert, David1, ???ENUM_CREATORROLE_AUTHOR???
Edenhofer, Ottmar2, ???ENUM_CREATORROLE_AUTHOR???                 
Fleurbaey, Marc1, ???ENUM_CREATORROLE_AUTHOR???
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1External Organizations, ou_persistent22              
2Potsdam Institute for Climate Impact Research, ou_persistent13              

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???ViewItemFull_lblSubject???: Optimal taxation, Inequality, Climate change, Social cost of carbon, Carbon tax
 ???ViewItemFull_lblAbstract???: The social cost of carbon is a central metric for optimal carbon prices. Previous literatureshows that inequality significantly influences the social cost of carbon, but mostly omits het-erogeneity below the national level. We present an optimal taxation model of the social cost ofcarbon that accounts for inequality betweenand within countries. We find that climate anddistributional policy can generally not be separated. If only one country does not compen-sate low-income households for disproportionate damages, the social cost of carbon tendsto increase globally. Optimal carbon prices remain roughly unchanged if national redistribu-tion leaves inequality between households unaffected by climate change and if the utility ofhouseholds is approximately logarithmic in consumption.

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???ViewItemFull_lblLanguages???: eng - English
 ???ViewItemFull_lblDates???: 2019-12-202021-03-292021-04-052021-04-20
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 ???ViewItemFull_lblIdentifiers???: ???ENUM_IDENTIFIERTYPE_PIKDOMAIN???: Director / Executive Staff / Science & Society
???ENUM_IDENTIFIERTYPE_ORGANISATIONALK???: Director Edenhofer
???ENUM_IDENTIFIERTYPE_DOI???: 10.1016/j.jeem.2021.102450
???ENUM_IDENTIFIERTYPE_RESEARCHTK???: Economics
???ENUM_IDENTIFIERTYPE_RESEARCHTK???: Climate Policy
???ENUM_IDENTIFIERTYPE_RESEARCHTK???: Carbon Pricing
???ENUM_IDENTIFIERTYPE_MDB_ID???: No data to archive
???ENUM_IDENTIFIERTYPE_OATYPE???: Hybrid Open Access
???ENUM_IDENTIFIERTYPE_PIKDOMAIN???: RD5 - Climate Economics and Policy - MCC Berlin
???ENUM_IDENTIFIERTYPE_ORGANISATIONALK???: RD5 - Climate Economics and Policy - MCC Berlin
???ENUM_IDENTIFIERTYPE_WORKINGGROUP???: Governance
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???ViewItemFull_lblSourceTitle???: Journal of Environmental Economics and Management
???ViewItemFull_lblSourceGenre???: ???ENUM_GENRE_JOURNAL???, SCI, Scopus
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???ViewItemFull_lblPages???: ???lbl_noEntry??? ???ViewItemFull_lblSourceVolumeIssue???: 107 ???ViewItemFull_lblSourceSequenceNo???: 102450 ???ViewItemFull_lblSourceStartEndPage???: ???lbl_noEntry??? ???ViewItemFull_lblSourceIdentifier???: ???ENUM_IDENTIFIERTYPE_PUBLISHER???: Elsevier
???ENUM_IDENTIFIERTYPE_OTHER???: 1096-0449
???ENUM_IDENTIFIERTYPE_ISSN???: 0095-0696
???ENUM_IDENTIFIERTYPE_CONE???: https://publications.pik-potsdam.de/cone/journals/resource/journal-of-environmental-economics-and-management