{"componentChunkName":"component---src-templates-post-query-tsx","path":"/research/optimal-climate-policy-and-the-future-of-world-economic-development/","result":{"pageContext":{"post":{"slug":"/research/optimal-climate-policy-and-the-future-of-world-economic-development/","title":"Optimal climate policy and the future of world economic development","date":"Oct 04, 2016","timeToRead":1,"description":"How much should present generations sacrifice to reduce emissions today, in order to reduce the future harms of climate change? Within climate economics, debate on this question has been focused on so called ethical parameters of social time preference and inequality aversion.","body":"function _extends() { _extends = Object.assign || function (target) { for (var i = 1; i < arguments.length; i++) { var source = arguments[i]; for (var key in source) { if (Object.prototype.hasOwnProperty.call(source, key)) { target[key] = source[key]; } } } return target; }; return _extends.apply(this, arguments); }\n\nfunction _objectWithoutProperties(source, excluded) { if (source == null) return {}; var target = _objectWithoutPropertiesLoose(source, excluded); var key, i; if (Object.getOwnPropertySymbols) { var sourceSymbolKeys = Object.getOwnPropertySymbols(source); for (i = 0; i < sourceSymbolKeys.length; i++) { key = sourceSymbolKeys[i]; if (excluded.indexOf(key) >= 0) continue; if (!Object.prototype.propertyIsEnumerable.call(source, key)) continue; target[key] = source[key]; } } return target; }\n\nfunction _objectWithoutPropertiesLoose(source, excluded) { if (source == null) return {}; var target = {}; var sourceKeys = Object.keys(source); var key, i; for (i = 0; i < sourceKeys.length; i++) { key = sourceKeys[i]; if (excluded.indexOf(key) >= 0) continue; target[key] = source[key]; } return target; }\n\n/* @jsxRuntime classic */\n\n/* @jsx mdx */\nvar _frontmatter = {\n  \"title\": \"Optimal climate policy and the future of world economic development\",\n  \"date\": \"2016-10-04\",\n  \"template\": \"post\",\n  \"slug\": \"optimal-climate-policy-and-the-future-of-world-economic-development\",\n  \"postedLink\": \"https://riceinstitute.org/research/optimal-climate-policy-and-the-future-of-world-economic-development/\",\n  \"description\": \"How much should present generations sacrifice to reduce emissions today, in order to reduce the future harms of climate change? Within climate economics, debate on this question has been focused on so called ethical parameters of social time preference and inequality aversion.\",\n  \"tags\": \"Research, Environment\",\n  \"banner\": \"\"\n};\nvar layoutProps = {\n  _frontmatter: _frontmatter\n};\nvar MDXLayout = \"wrapper\";\nreturn function MDXContent(_ref) {\n  var components = _ref.components,\n      props = _objectWithoutProperties(_ref, [\"components\"]);\n\n  return mdx(MDXLayout, _extends({}, layoutProps, props, {\n    components: components,\n    mdxType: \"MDXLayout\"\n  }), mdx(\"p\", null, \"Authors: Mark Budolfson, Francis Dennig, Marc Fleurbaey, Noah Scovronick, Asher Siebert, Dean Spears, Fabian Wagner\"), mdx(\"p\", null, \"Published in: \", mdx(\"em\", {\n    parentName: \"p\"\n  }, \"The World Bank Economic Review\")), mdx(\"p\", null, mdx(\"a\", {\n    parentName: \"p\",\n    \"href\": \"https://github.com/riceinstitute/content/blob/release/research/budolfson-et-al-2016-optimal-climate-policy-and-the-future-of-world-economic-development.pdf\",\n    \"target\": \"_blank\",\n    \"rel\": \"noopener noreferrer\"\n  }, \"Download Paper\")), mdx(\"p\", null, \"Abstract:\"), mdx(\"p\", null, \"How much should present generations sacrifice to reduce emissions today, in order to reduce the future harms of climate change? Within climate economics, debate on this question has been focused on so called \\xA0\\\"ethical parameters\\\" of social time preference and inequality aversion.\"), mdx(\"p\", null, \"We show that optimal climate policy similarly importantly depends on the future of the developing world. In particular, although global poverty is falling and the economic lives of the poor are improving worldwide, leading models of climate economics may be too optimistic about two central predictions: future population growth in poor countries, and future convergence in total factor productivity (TFP).\"), mdx(\"p\", null, \"We report results of small modifications to a standard model: under plausible scenarios for high future population growth (especially in sub-Saharan Africa) and for low future TFP convergence, we find that optimal near-term carbon taxes could be substantially larger.\"));\n}\n;\nMDXContent.isMDXComponent = true;","tags":[{"name":"Research","slug":"research"},{"name":" Environment","slug":"environment"}],"banner":null}}},"staticQueryHashes":["318001574","3787687951","3787687951"]}