This paper uses the WITCH model, a computable general equilibrium model with endogenous technological change, to explore the impact of various climate policies on energy technology choices and the costs of stabilising greenhouse gas concentrations. Current and future expected carbon prices appear to have powerful effects on R&D spending and clean technology diffusion. Their impact on stabilisat...

Recent empirical literature has found a negative relationship between income per capita and measures of risk from natural disaster, supportive of logic that higher incomes allow countries to mitigate disaster risk. We argue that behavioral changes at the micro level in response to increasing income (such as location choice and extent of costly abatement activity) may lead to a nonlinear relatio...

Carbon permits and associated …nancial derivatives are increasingly traded in …nancial markets. E¢ ciently functioning carbon markets are necessary if reductions in CO2 emissions are to be achieved in a cost-e¤ective manner. With these considerations in mind, this paper adds to the growing literature which seeks to understand the operations of the carbon markets. We jointly model the spot and f...

Focusing on tail effects, I incorporate distributions for temperature change and its economic impact in an analysis of climate change policy. I estimate the fraction of consumption w(τ ) that society would be willing to sacrifice to ensure that any increase in temperature at a future point is limited to τ . Using information on the distributions for temperature change and economic impact from s...

Heat waves, defined as an interval of abnormally hot and humid weather, have been a prominent killer in recent years. With heat waves worsening with climate change, adaptation is essential; one strategy has been to issue heat wave warnings and undertake awareness campaigns to bring about behavioral changes to reduce heat stroke. Since 2002, the Indian state of Odisha has been undertaking a gras...

Does temperature affect real economic activity? Using the annual Current Population Survey between 1963 and 2015, we show that there is no association between temperature and earnings, hours, or output after controlling for time-invariant spatial heterogeneity and timevarying demographic factors. These results are robust to five separate sources of micro-data, different sampling horizons, funct...

At present the USA is in per capita terms the top greenhouse gas polluter among the world’s major economies. This is mirrored by the high energy intensity of all sectors of the US economy including manufacturing industries. A potential explanation for the higher energy intensity are lower US energy price levels. However, common price elasticity estimates are not high enough to explain the obser...

France, Germany, and Sweden have recently linked vehicle taxes to the carbon dioxide (CO2) emissions rates of passenger vehicles. France has introduced a system of CO2-based purchase taxes and subsidies, whereas Germany and Sweden impose annual circulation (i.e., registration) taxes that are linear functions of CO2 emissions rates. This paper (a) compares the effects of vehicle taxes on registr...