New article by Klara Zwickl, Simon Sturn, and Jim Boyce: Carbon combustion not only contributes to climate change, it also releases co-pollutants such as particulate matter, nitrogen oxides, and sulfur oxides. Using data on large industrial point sources in Europe, we estimate the effects of CO2 reductions due to more stringent climate policies on co-pollutants, and use these estimates to calculate air quality co-benefits. The results show that substantially higher carbon prices can be justified based on co-benefits alone, independent of their climate benefits. http://www.iaee.org/en/publications/ejarticle.aspx?id=3732