Only people born *after* 2050 will experience net benefits from climate policy
Costs come soon, benefits much later
Optimal policy still worth having, but shows why climate policy so difficult:
Convincing people to pay, *none of whom will net benefit*
iopscience.iop.org/article/10.108…
Costs come soon, benefits much later
Optimal policy still worth having, but shows why climate policy so difficult:
Convincing people to pay, *none of whom will net benefit*
iopscience.iop.org/article/10.108…
Climate policy leads to net-costs until 2080
New paper shows how climate policy costs come soon, whereas benefits mostly accrue much later
In total, the optimal policy is still worth having, but it shows why doing climate policy is so difficult
iopscience.iop.org/article/10.108…
New paper shows how climate policy costs come soon, whereas benefits mostly accrue much later
In total, the optimal policy is still worth having, but it shows why doing climate policy is so difficult
iopscience.iop.org/article/10.108…
Climate policy only becomes net-benefit after 2080, irrespective of climate costs or climate policy costs doubling or halving (if climate is worse than expected, we'll do more climate policy, hence pay more, hence break-even still in 2080)
iopscience.iop.org/article/10.108…
iopscience.iop.org/article/10.108…
Break-even only changes with discount rate:
If you value the future more compared to the present (lower discount), benefits first outweigh costs after 2100, because you'll do so much climate policy
Reverse if higher discount
iopscience.iop.org/article/10.108…
If you value the future more compared to the present (lower discount), benefits first outweigh costs after 2100, because you'll do so much climate policy
Reverse if higher discount
iopscience.iop.org/article/10.108…
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