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Policy Briefs

Heller-Hurwicz Economics Institute publishes policy briefs to translate and communicate policy relevant economic research to a broad audience. Together, they showcase the breadth of research conducted in connection to the Institute. Contributors include faculty, alumni, advisory board members and other experts affiliated with the Institute.

Oil Refinery

POLICY BRIEF: Calibrating the Price of Climate Risk

Science reveals that doing nothing about fossil fuel emissions is leading to shattering changes in the earth’s climate. But how do we measure the cost of doing nothing today? A novel economic model puts a price on inaction, revealing that billions quickly turn into trillions in foregone consumption tied to climate change. It’s a mathematical argument for moving quickly to adopting a carbon tax in order to avert the unimaginable costs of delay.