APA
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Mattauch, L., Millar, R., van der Ploeg, R., Rezai, A., Schultes, A., Venmans, F., … Teytelboym, A. (2018). Steering the Climate System: An Extended Comment. SSRN Electronic Journal.
Chicago/Turabian
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Mattauch, Linus, R. Millar, Rick van der Ploeg, A. Rezai, Anselm Schultes, Frank Venmans, N. Bauer, et al. “Steering the Climate System: An Extended Comment.” SSRN Electronic Journal (2018).
MLA
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Mattauch, Linus, et al. “Steering the Climate System: An Extended Comment.” SSRN Electronic Journal, 2018.
BibTeX Click to copy
@article{linus2018a,
title = {Steering the Climate System: An Extended Comment},
year = {2018},
journal = {SSRN Electronic Journal},
author = {Mattauch, Linus and Millar, R. and van der Ploeg, Rick and Rezai, A. and Schultes, Anselm and Venmans, Frank and Bauer, N. and Dietz, Simon and Edenhofer, O. and Farrell, Niall and Hepburn, C. and Luderer, G. and Pless, J. and Spuler, Fiona and Stern, N. and Teytelboym, A.}
}
Lemoine and Rudik (2017) argue that it is efficient to delay reducing carbon emissions, because there is substantial inertia in the climate system. However, this conclusion rests upon misunderstanding the relevant climate physics: there is no substantial lag between CO2 emissions and warming, which policy could rely upon. Applying a mainstream climate physics model to the economics of Lemoine and Rudik (2017) invalidates the article’s implications for climate policy: the cost-effective carbon price that limits warming to a range of targets including 2 oC starts high and increases at the interest rate.