Integrated Assessment Models (IAMs) that couple the climate system and the economy require a representation of ocean CO2 uptake to translate human-produced emissions to atmospheric concentrations and in turn to climate change. The simple linear carbon cycle representations in most IAMs are not...

One of the central ways that the costs of global warming are incorporated into U.S. law is in cost-benefit analysis of federal regulations. In 2010, to standardize analyses, an Interagency Working Group (IAWG) established a central estimate of the social cost of carbon (SCC) of $21/tCO2 drawn...

The global land use implications of biofuel expansion have received considerable attention in the literature over the past decade. Model-based estimates of the emissions from cropland expansion have been used to assess the environmental impacts of biofuel policies. And integrated assessment...

Recently enacted state Renewable Portfolio Standards (RPSs) collectively require that U.S. electricity generation by non-hydro renewables more than double by 2025. These goals are not certain to be met, however, because many RPSs apply cost caps that alter requirements if costs exceed targets....

The 2012 growing season saw one of the worst droughts in a generation in much of the United States and cast a harsh light on the need for better analytic tools and a comprehensive approach to predicting and preparing for the effects of extreme weather on agriculture. We present an example of a...

The economics of global climate change is characterized by fundamental uncertainties, including the appropriate reduced forms for climate dynamics, the specification of economic damages resulting from climate change, and mechanisms by which these damages will affect long-run economic growth....

We investigate the qualitative properties of the climate-economic growth model introduced by Brock et al., (2012). We assume that the mean annual distribution of solar radiation energy and the fraction of incoming radiation flux absorbed by the surface have a specific form, and perform a...

We use a dynamic stochastic general equilibrium model of integrated climate and economy (DSICE) to account for abrupt and irreversible climate change. We model a climate shock in the form of a stochastic tipping point. We investigate the impact of the tipping point externality on optimal...