Related papers: Baumol's Climate Disease
Fighting against climate change is a global challenge shared by nations with heterogeneous economical resources and individuals with diverse propensity for cooperation. However, we lack a clear understanding of the role of key factors such…
Carbon prices are one of the most prominent methods to reduce global greenhouse gas emissions and have been adopted by several countries around the world. However, regionally different carbon prices can lead to carbon leakage. We…
An updated and extended meta-analysis confirms that the central estimate of the social cost of carbon is around $200/tC with a large, right-skewed uncertainty and trending up. The pure rate of time preference and the inverse of the…
Understanding the role of human behavior in shaping environmental outcomes is crucial for addressing global challenges such as climate change. Environmental systems are influenced not only by natural factors like temperature, but also by…
Abstract: The rising global temperatures caused by climate change significantly impact energy consumption and electricity generation. Fluctuating temperatures and frequent extreme weather events disrupt energy production and consumption…
Economic model predictive control has been proposed as a means for solving the unit loading and unit allocation problem in multi-chiller cooling plants. The adjective economic stems from the use of financial cost due to electricity…
Aging interventions frequently improve function and healthspan without arresting long-term deterioration, indicating that existing frameworks do not fully specify the control conditions required for bounded organismal aging. A compact…
The transition from a fossil-based energy economy to one based on renewable energy is driven by the double challenge of climate change and resource depletion. Building a renewable energy infrastructure requires an upfront energy investment…
The financial sector is increasingly concerned with the physical risks of climate change, but economic and financial impact representations are still developing, particularly for chronic risks. Mexico's Central Bank conducted a…
Several non-pharmaceutical interventions have been proposed to control the spread of the COVID-19 pandemic. On the large scale, these empirical solutions, often associated with extended and complete lockdowns, attempt to minimize the costs…
We explore the interplay between sovereign debt default/renegotiation and environmental factors (e.g., pollution from land use, natural resource exploitation). Pollution contributes to the likelihood of natural disasters and influences…
Once carbon emission neutrality and other sustainability goals have been achieved, a widespread assumption is that economic growth at current rates can be sustained beyond the 21st century. However, even if we achieve these goals, this…
We investigate the economic and environmental impacts of the European Carbon Border Adjustment Mechanism (CBAM) using a multi-country, multi-sector general equilibrium model with input-output linkages. We quantify the general equilibrium…
Emissions pathways used in climate policy analysis are often derived from integrated assessment models. However, such emissions pathways do not typically include climate feedbacks on socioeconomic systems and by extension do not consider…
This work is based on the framework proposed by Conrad (1997) to determine the optimal timing of an investment or policy to slow global warming. While Conrad formulated the problem as a stopping rule option pricing model, we treat the…
Until recently, analysis of optimal global climate policy has focused on mitigation. Exploration of policies to meet the 1.5{\deg}C target have brought carbon dioxide removal (CDR), a second instrument, into the climate policy mainstream.…
The rising share of abundant renewable energy inevitably increases volatility in the electricity production. The concept of sector coupling means that the volatility of electricity production to a large degree can be absorbed by dispatching…
Carbon emission right allowance is a double-edged sword, one edge is to reduce emission as its original design intention, another edge has in practice slain many less developed coal-consuming enterprises, especially for those in thermal…
We consider the problem of reducing the carbon emissions of a set of firms over a finite horizon. A regulator dynamically allocates emission allowances to each firm. Firms face idiosyncratic as well as common economic shocks on emissions,…
Automation raises productivity and reduces paid human labor, but it also reallocates income and ownership claims. This paper studies that tradeoff in a static benchmark and in a stationary heterogeneous-agent general equilibrium. Firms…