Policies, Projections, and the Social Cost of Carbon: Results from the DICE-2023 Model
The present study examines the assumptions, modeling structure, and preliminary results of DICE-2023, the revised Dynamic Integrated Model of Climate and the Economy (DICE), updated to 2023. The revision contains major changes in the carbon and climate modules, the treatment of non-industrial greenhouse gases, discount rates, as well as updates on all the major components. The major changes are a significantly lower level of temperature of the cost-benefit optimal policy, a lower cost of reaching the 2° C target, an analysis of the impact of the Paris Accord, and a major increase in the estimated social cost of carbon.
Published Versions
Lint Barrage & William Nordhaus, 2024. "Policies, projections, and the social cost of carbon: Results from the DICE-2023 model," Proceedings of the National Academy of Sciences, vol 121(13).
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