Related papers: Baumol's Climate Disease
To fight climate change and accommodate the increasing population, global crop production has to be strengthened. To achieve the "sustainable intensification" of agriculture, transforming it from carbon emitter to carbon sink is a priority,…
Classical environmental contours are used in structural design in order to obtain upper bounds on the failure probabilities of a large class of designs. Buffered environmental contours serve the same purpose, but with respect to the…
The rapid expansion of data centers (DCs) has intensified energy and carbon footprint, incurring a massive environmental computing cost. While carbon-aware workload migration strategies have been examined, existing approaches often overlook…
The PCL framework provides a comprehensive climate risk management approach grounded in the assessment of societal values of financial and non-financial loss tolerability. The framework optimizes response action across three main clusters,…
To halt further climate change, computing, along with the rest of society, must reduce, and eventually eliminate, its carbon emissions. Recently, many researchers have focused on estimating and optimizing computing's \emph{embodied carbon},…
Mitigation measures are essential for controlling the spread of infectious diseases during pandemics and epidemics, but they impose considerable societal, individual, and economic costs. We developed a general optimization framework to…
In this paper, I endeavour to construct a new model, by extending the classic exogenous economic growth model by including a measurement which tries to explain and quantify the size of technological innovation ( A ) endogenously. I do not…
We consider a possibility of socioeconomic collapse caused by the spread of epidemic. To this end, we exploit a simple SIS-like (susceptible-infected-susceptible) model with negative feedback between the infected population size and a…
Sustainability is a key point for financial markets and the label "Green" is an attempt to address this. Acquisition of the label "Green" for financial products carries potential benefits, hence the controversy and attractiveness of the…
We formulate an optimal control problem to determine the lockdown policy to curb an epidemic where other control measures are not available yet. We present a unified framework to model the epidemic and economy that allows us to study the…
The significant carbon footprint of the ICT sector calls for methodologies to contain carbon emissions of running software. This article proposes a novel framework for implementing, configuring and assessing carbon-aware interactive…
Great socio-economic transitions see the demise of certain industries and the rise of others. The losers of the transition tend to deploy a variety of tactics to obstruct change. We develop a political-economy model of interest group…
Climate change and global warming are among the most significant issues that humanity is currently facing, and also among the issues that pose the greatest threats to all mankind. These issues are primarily driven by abnormal increases in…
Motivated by original equipment manufacturer (OEM) service and maintenance practices we consider a single component subject to replacements at failure instances and two types of preventive maintenance opportunities: scheduled, which occur…
To achieve inclusive green growth, countries need to consider a multiplicity of economic, social, and environmental factors. These are often captured by metrics of economic complexity derived from the geography of trade, thus missing key…
The rapid increase in computing demand and its corresponding energy consumption have focused attention on computing's impact on the climate and sustainability. Prior work proposes metrics that quantify computing's carbon footprint across…
Greenhouse gases (GHG) trap heat and make the planet warmer, exacerbating global climate change. Energy production is the second largest contributor to climate change [19]. In particular, the production of electricity and use of gas…
The initial Climate-Extended Risk Model (CERM) addresses the estimate of climate-related financial risk embedded within a bank loan portfolio, through a climatic extension of the Basel II IRB model. It uses a Gaussian copula model…
We consider the problem of optimal consumption from labor income and investment in a general incomplete semimartingale market. The economic agent cannot borrow against future income, so the total wealth is required to be positive at (all or…
An income loss can have a negative impact on households, forcing them to reduce their consumption of some staple goods. This can lead to health issues and, consequently, generate significant costs for society. We suggest that consumers can,…