Related papers: Baumol's Climate Disease
We develop a dynamic multi-region climate-economy model with emissions trading and solve for the dynamic Nash equilibrium under noncooperation, where each region follows Paris Agreement-based emissions caps. The permit price reaches $923…
This paper examines how investment in environmentally sustainable practices impacts employment and labor productivity growth of firms in transition economies. The study considers labor skill composition and geographical differences,…
Urgently needed carbon emissions reductions might lead to strict command-and-control decarbonization strategies with potentially negative economic consequences. Analysing the entire firm-level production network of a European economy, we…
The aerosol masking effect, or global dimming, is a well-documented instance of our ongoing climate predicament: Efforts to mitigate greenhouse gas production by curbing industrial activity or transitioning to clean sources such as solar or…
Earlier meta-analyses of the economic impact of climate change are updated with more data, with three new results: (1) The central estimate of the economic impact of global warming is always negative. (2) The confidence interval about the…
The business model of surveillance capitalism, premised on the extraction of behavioral data and its predictive potential for profit, relies on extensive material infrastructure. Such profit is typically driven by practices such as…
The majority of estimates of the social cost of carbon use preference parameters calibrated to data for North America and Europe. We here use representative data for attitudes to time and risk across the world. The social cost of carbon is…
First-best climate policy is a uniform carbon tax which gradually rises over time. Civil servants have complicated climate policy to expand bureaucracies, politicians to create rents. Environmentalists have exaggerated climate change to…
We present an entirely new physics founded approach to estimating the social cost of carbon (SCC). For this, we developed our Ocean-Heat-Content Physics and Time Macro Economic Model (OPTiMEM) to estimate future heat content (separately…
A transition to a low-carbon electricity supply is crucial to limit the impacts of climate change. Reducing carbon emissions could help prevent the world from reaching a tipping point, where runaway emissions are likely. Runaway emissions…
We propose a stylized model of a complex economy to explore the economic tradeoffs imposed by the so called "green transition" -- the shift towards more sustainable production paradigms -- using tools from the Statistical Mechanics of…
Can sustained open-ended technological progress preserve natural resources in a finite planet? We address this question on the basis of a stylized model with genuine open-ended technological innovation, where an innovation event corresponds…
Global warming is one of the main threats to the future of humanity and extensive emissions of greenhouse gases are found to be the main cause of global temperature rise as well as climate change. During the last decades international…
This paper considers the core of a competitive market economy with an endogenous social division of labour. The theory is founded on the notion of a "consumer-producer", who consumes as well as produces commodities. First, we show that the…
This paper synthesizes evidence on climate change impacts specific to U.S. populations. We develop an apples-to-apples comparison of econometric studies that empirically estimate the relationship between climate change and gross domestic…
It is widely assumed that increases in economic productivity necessarily lead to economic growth. In this paper, it is shown that this is not always the case. An idealized model of an economy is presented in which a new technology allows…
Botanical pandemics cause enormous economic damage and food shortages around the globe. However, since botanical pandemics are here to stay in the short-medium term, domesticated field owners can strategically seed their fields to optimize…
The demand for computing is continuing to grow exponentially. This growth will translate to exponential growth in computing's energy consumption unless improvements in its energy-efficiency can outpace increases in its demand. Yet, after…
Understanding the impact of human behavior is crucial for successful mitigation of climate change across the globe. To shed light onto this issue, here we couple the forest dieback model with human behaviors. Using evolutionary game theory,…
Effective climate action depends on dismantling the assumptions and oversimplifications that have become the basis of climate policy. The assumption that greenhouse gases (GHG) are fungible and the use of single-point values in normalizing…