Martin C. Hänsel, Michael D. Bauer, Moritz A. Drupp, Gernot Wagner, and Glenn Rudebusch
Understanding the linkage between policy instruments and desired outcomes is important for the design and calibration of public policy actions. For climate policy, quantifying the linkage between policy actions and subsequent climate outcomes is also crucial, but this connection has often been difficult to perceive given the complexity of the relevant socio-economic and physical climate responses. To better understand the efficacy of climate policy, we propose using climate policy curves (CPCs), which quantify the relationship between the effective price of carbon dioxide (CO2) and the future increase in global temperature.
Climate policy curves: Linking policy choices to climate outcomes (brookings.edu)
