This paper presents a non-equilibrium dynamic model (NEDyM) that introduces investment dynamics and non-equilibrium effects into a Solow growth model. NEDyM can reproduce several typical economic regimes and, for certain ranges of parameter values, exhibits endogenous business cycles with...

This note highlights a major reason to limit climate change to the lowest possible levels. This reason follows from the large increase in uncertainty associated with high levels of warming. This uncertainty arises from three sources: the change in climate itself, the change’s impacts at the...

We investigate the macroeconomic response to natural disasters by using an endogenous business cycle (EnBC) model in which cyclical behavior arises from the investment-profit instability. Our model exhibits a larger response to natural disasters during expansions than during recessions. This...

Climate models project large changes in rainfall, but disagree on their magnitude and sign. The consequences of this uncertainty on optimal dam dimensioning is assessed for a small mountainous catchment in Greece. Optimal dam design is estimated using a Cost-Benefit Analysis (CBA) based on...

This study illustrates a methodology to assess economic impacts of climate change at city scale, focusing on sea level rise and storm surge. It is based on a statistical analysis of past storm surges in the studied city, matched to a geographical-information analysis of the population and asset...

This study illustrates a methodology to assess the economic impacts of climate change at a city scale and benefits of adaptation, taking the case of sea level rise and storm surge risk in the city of Copenhagen, capital of Denmark. The approach is a simplified catastrophe risk assessment, to...

This study illustrates a methodology to assess economic impacts of climate change at city scale, focusing on sea level rise and storm surge. It is based on a statistical analysis of past storm surges in the studied city, matched to a geographical-information analysis of the population and asset...

Adaptation has long been neglected in the debate and policies surrounding climate change. However, increasing awareness of climate change has led many stakeholders to look for the best way to limit its consequences and has resulted in a large number of initiatives related to adaptation,...