Data and Code for "Pricing Carbon: Evidence from Expert Recommendations"

Summary:  View help for Summary In the paper "Pricing Carbon: Evidence from Expert Recommendations”, we study the variation of carbon price recommendations and their determinants using survey evidence from more than 400 experts across almost 40 countries. We quantify the extent of disagreement and reveal that a majority of experts can agree on short- and medium-term global carbon price levels, and on unilateral carbon price levels in most countries. The majority of recommendations do not exhibit a “free-riding” pattern of lower unilateral than global carbon prices. Furthermore, border carbon adjustment facilitates higher unilateral price recommendations. We show how recommendations vary with additional survey responses, and with country and expert characteristics. 

Here, we provide a guide for replicating all results that are based on publicly sharable material reported in “Pricing Carbon: Evidence from Expert Recommendations” using the programs Stata and R (note that we can make available data only in a format that maintains the anonymity of individual respondents). Two main files ("Execution_Stata_v-shared.do" for Stata and "Execution_R_Shared.R" in the subfolder "Figures_R_Shared") run all of the code to generate the data for all in-text statistical tests based on publicly sharable data, the 28 figures as well as the 24 tables in the paper. The folder also contains the code based on the full data set, which has been used by the AEA replication team to verify results. The read-me document "README_AEJPol-2022-0571" provides further details. 

JEL Classification:  View help for JEL Classification
      H43 Project Evaluation; Social Discount Rate
      Q54 Climate; Natural Disasters and Their Management; Global Warming