Council – was reached after a long-lasting discourse over the 2030 EU climate and energy policy package. This paper offers a … set so high that the derived emissions reduction exceeds the EU climate target. Hence, carbon prices are redundant in … reaching the EU climate goal. This policy, however, is not cost efficient …

emission certificate regulation, and we consider the impact of changes in EU climate policy on the rest of the world as well as … implemented, the low carbon countries will prefer a lower carbon price, i.e. laxer climate policy at the EU level, than before the … reform. For high carbon countries the opposite is true. As a result, EU climate policy becomes less ambitious and less …

A two-tier climate club exploits the comparative advantage of large countries to mete out punishments through trade … a single-tier climate club in which many stable coalitions are possible, the stable coalition in the calibrated model is …

Asset pricing and climate policy are analyzed in a global economy where consumption goods are produced by both a green … that, initially, the desire to diversify assets complements the attempt to mitigate economic damages from climate change …. In the longer run, however, a trade-off between diversification and climate action emerges. We derive the optimal carbon …

quantitative easing (QE) in complementing fiscal policies for climate change mitigation. We model green QE through an outstanding …

The extent of future climate change is a policy choice. Using an integrated climate-economy assessment model, we … estimate climate policy curves (CPCs) that link the price of carbon dioxide (CO2) to subsequent global temperatures. The … how climate policy choices determine climate outcomes. Our analysis can account for a variety of climate policies …

The estimated values to society from long-term public projects, including climate change mitigation and infrastructure … alternative ethical approaches to standard Utilitarian calculus. In the politicized world of long-term decision-making, this paper … nuanced decision-making today and lead to multidisciplinary support for climate action …

We review the literature studying interactions between climate change and financial markets. We first discuss various … approaches to incorporating climate risk in macro-finance models. We then review the empirical literature that explores the … pricing of climate risks across a large number of asset classes including real estate, equities, and fixed income securities …

The social cost of carbon is the central economic measure for aggregate climate change damages and functions as a … characterize the relationship between climate and redistributional policy in an optimal taxation model that explicitly accounts for … inequality between and within countries. In particular, we demonstrate that climate and distributional policy cannot be separated …