Cumulative carbon emissions and economic policy: In search of general principles
利用气候科学新进展，构建了一个简单但物理一致的气候政策模型，发现关键经济模型高估了碳排放与变暖之间的延迟，并忽略了碳汇饱和，因此建议近期大幅减排，碳价应起始较高且快速增长。
We exploit recent advances in climate science to develop a physically consistent, yet surprisingly simple, model of climate policy. It seems that key economic models have greatly overestimated the delay between carbon emissions and warming, and ignored the saturation of carbon sinks that takes place when the atmospheric concentration of carbon dioxide rises. This has important implications for climate policy. If carbon emissions are abated, damages are avoided almost immediately. Therefore it is optimal to reduce emissions significantly in the near term and bring about a slow transition to optimal peak warming, even if optimal steady-state/peak warming is high. The optimal carbon price should start relatively high and grow relatively fast.