Related papers: Baumol's Climate Disease
Climate change, which is now considered one of the biggest threats to humanity, is also the reason behind various other environmental concerns. Continued negligence might lead us to an irreparably damaged environment. After the partial…
Promoting and increasing energy efficiency is a promising method of reducing CO2 emissions and avoiding the potentially devastating effects of climate change. The question is: How do we induce a cultural or behavioural change whereby people…
The most dangerous effects of anthropogenic climate change can be mitigated by using emissions taxes or other regulatory interventions to reduce greenhouse gas (GHG) emissions. This paper takes a regulatory viewpoint and describes the…
We model a dynamic data economy with fully endogenous growth where agents generate data from consumption and share them with innovation and production firms. Different from other productive factors such as labor or capital, data are…
This paper presents a carbon-energy coupling management framework for an industrial park, where the carbon flow model accompanying multi-energy flows is adopted to track and suppress carbon emissions on the user side. To deal with the…
Load shifting by commercial and industrial power consumers reduces costs and Scope 2 emissions for the consumer and the grid. Incentivizing this behavior requires tools for valuing flexibility amidst the heterogeneity in load…
To achieve ambitious greenhouse gas emission reduction targets in time, the planning of future energy systems needs to accommodate societal preferences, e.g. low levels of acceptance for transmission expansion or onshore wind turbines, and…
The potential tradeoff between health outcomes and economic impact has been a major challenge in the policy making process during the COVID-19 pandemic. Epidemic-economic models designed to address this issue are either too aggregate to…
Studies report that firms do not invest in cost-effective green technologies. While economic barriers can explain parts of the gap, behavioural aspects cause further under-valuation. This could be partly due to systematic deviations of…
Traffic is a significant source of global carbon emissions. In this paper, we study how carbon pricing can be used to guide traffic towards equilibria that respect given emission budgets. In particular, we consider a general multi-commodity…
This paper presents a conceptual model describing the medium and long-term co-evolution of natural and socio-economic subsystems of Earth. An economy is viewed as an out-of-equilibrium dissipative structure that can only be maintained with…
Population genetics struggles to model extinction; standard models track the relative rather than absolute fitness of genotypes, while the exceptions describe only the short-term transition from imminent doom to evolutionary rescue. But…
After the first lockdown in response to the COVID-19 outbreak, many countries faced difficulties in balancing infection control with economics. Due to limited prior knowledge, economists began researching this issue using cost-benefit…
The conditions that can lead to the exploitative depletion of a shared resource, i.e, the tragedy of the commons, can be reformulated as a game of prisoner's dilemma: while preserving the common resource is in the best interest of the…
In this research, we develop a framework to analyze the interaction between the economy and the Covid-19 pandemic using an extension of SIR epidemic model. At the outset, we assume there are two health related investments including general…
We develop a tractable macroeconomic model that captures dynamic behaviors across multiple timescales, including business cycles. The model is anchored in a dynamic capital demand framework reflecting an interactions-based process whereby…
A meta-analysis of published estimates shows that the social cost of carbon has increased as knowledge about climate change accumulates. Correcting for inflation and emission year and controlling for the discount rate, kernel density…
The retirement of unabated coal power plants, the plummeting cost of renewable energy technologies, along with more aggressive public policies and regulatory reforms, are occurring at an unprecedented speed to decarbonize the power and…
This study provides a comprehensive strategic analysis of infrastructure energy investment in the context of the global low-carbon transition. Integrating quantitative panel data analysis across 15 countries (2010-2023), detailed case…
Mobilising private capital is a critical bottleneck of the energy transition, yet recent crisis-driven windfall profits for fossil power firms suggest that market signals may still favour carbon-intensive assets. Here we analyse a panel of…