Related papers: General Equilibrium Theory for Climate Change
How should taxes on externality-generating activities be adjusted if they are regressive? In our model, the government raises revenue using distortionary income and commodity taxes. If more or less productive people have identical tastes…
Combined climate mitigation/geoengineering approach has better economic utility, less emission control rate and temperature increase than mitigation alone. If setting the 50% reduction rate and 2^\circC temperature increase as constrains,…
We study a large economy in which firms cannot compute exact solutions to the non-linear equations that characterize the equilibrium price at which they can sell future output. Instead, firms use polynomial expansions to approximate prices.…
We solve for the equilibrium dynamics of information sharing in a large population. Each agent is endowed with signals regarding the likely outcome of a random variable of common concern. Individuals choose the effort with which they search…
In this article two models for charges distributions are discussed. On the basis of our consideration we put different points of view for stationary state. We prove that only finite energy model for charges' distribution and well-known…
We develop a stochastic equilibrium model for an electricity market with asymmetric renewable energy forecasts. In our setting, market participants optimize their profits using public information about a conditional expectation of energy…
Inequality and its consequences are the subject of intense recent debate. Using a simplified model of the economy, we address the relation between inequality and liquidity, the latter understood as the frequency of economic exchanges.…
A proportional wealth tax - a levy on the stock of wealth - preserves portfolio neutrality by acting as a uniform drift shift in the Fokker-Planck equation for wealth dynamics. We extend this result to the full system of ownership taxes…
We characterize the conditions under which a multi-time quantum process with a finite temporal resolution can be approximately described by an equilibrium one. By providing a generalization of the notion of equilibration on average, where a…
Statistical mechanics of a disordered system of cars on a single-lane road is developed. Behaviour of cars is defined by conditional probability of car velocity depending on the distance and velocity of the car ahead. A system consisting of…
Ambitious scenarios of carbon emission redistribution for mitigating climate change in line with the Paris Agreement and reaching the sustainable development goal of eradicating poverty have been proposed recently. They imply a strong…
We provide ex-post empirical analysis of the effects of climate policies on carbon dioxide emissions at the aggregate national level. Our results are based on a comprehensive database of 121 countries. As climate policies we examine carbon…
Anthropogenic emissions of CO2 must soon approach net-zero to stabilize the global mean temperature. Although several international agreements have advocated for coordinated climate actions, their implementation has remained below…
The evolution of a quasi-isolated finite quantum system from a nonequilibrium initial state is considered. The condition of quasi-isolation allows for the description of the system dynamics on the general basis, without specifying the…
Estimating the effects of climate on economic output is crucial for formulating climate policy, but current empirical findings remain ambiguous. Using annual panel model and panel long-difference model with global subnational data from…
Sustainable Development Goals are intrinsically competing, but their embedding into urban systems furthermore emphasises such compromises, due to spatial complexity, the non-optimal nature of such systems, and multi-objective aspects of…
We study an overlapping generations (OLG) exchange economy with an asset that yields dividends. First, we derive general conditions, based on exogenous parameters, that give rise to three distinct scenarios: (1) only bubbleless equilibria…
The use of equilibrium models in economics springs from the desire for parsimonious models of economic phenomena that take human reasoning into account. This approach has been the cornerstone of modern economic theory. We explain why this…
Climate change compels a reduction of greenhouse gas emissions, yet vehicular traffic still contributes significantly to the emission of air pollutants. Hence, in this paper we focus on the optimization of traffic flow while simultaneously…
We present here a general framework, expressed by a system of nonlinear differential equations, suitable for the modelling of taxation and redistribution in a closed (trading market) society. This framework allows to describe the evolution…