Updating the United States Government's Social Cost of Carbon

Since its release in 2010, the United States government’s Social Cost of Carbon (SCC) has played a central role climate policy both domestically and internationally. However, rapid progress science economics over last decade mean that it is no longer based on frontier understanding. Specifically, extensive new research about climate, economy, their relationship altered understanding magnitudes projected physical economic impacts change, as well heterogeneity across space time. This paper provides concrete recommendations how to rebuild SCC these advances return scientific frontier.