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Optimal control of a global model of climate change with adaptation and mitigation

Atolia, Manoj; Loungani, Prakash; Maurer, Helmut; … - 2018

The Integrated Assessment Model (IAM) has extensively treated the adverse effects of climate change and the appropriate mitigation policy. We extend such a model to include optimal policies for mitigation, adaptation and infrastructure investment studying the dynamics of the transition to a low...

Persistent link: https://www.econbiz.de/10011978566

Climate disaster risks : empirics and a multi-phase dynamic model

Mittnik, Stefan; Semmler, Willi; Haider, Alexander - 2019

Recent research in financial economics has shown that rare large disasters have the potential to disrupt financial sectors via the destruction of capital stocks and jumps in risk premia. These disruptions often entail negative feedback e?ects on the macroecon-omy. Research on disaster risks has...

Persistent link: https://www.econbiz.de/10012102117

Weather shocks and output in low-income countries : adaptation and the role of policies

Acevedo Mejia, Sebastian; Baccianti, Claudio; Mrkaic, Mico - 2019

We explore the extent to which macroeconomic policies, structural policies, and institutions can mitigate the negative relationship between temperature shocks and output in countries with warm climates. Empirical evidence and simulations of a dynamic general equilibrium model reveal that good...

Persistent link: https://www.econbiz.de/10012103566

Macroeconomic and financial policies for climate change mitigation : a review of the literature

Krogstrup, Signe; Oman, William - 2019

Climate change is one of the greatest challenges of this century. Mitigation requires a large-scale transition to a low-carbon economy. This paper provides an overview of the rapidly growing literature on the role of macroeconomic and financial policy tools in enabling this transition. The...

Persistent link: https://www.econbiz.de/10012103638

A possible approach to fiscal rules in small islands : incorporating natural disasters and climate change

Nakatani, Ryota - 2019

A big challenge for the economic development of small island countries is dealing with external shocks. The Pacific Islands are vulnerable to natural disasters, climate change, commodity price changes, and uncertain donor grants. The question that arises is how should small developing countries...

Persistent link: https://www.econbiz.de/10012103680

Long-term macroeconomic effects of climate change : a cross-country analysis

Kahn, Matthew E.; Mohaddes, Kamiar; Ng, Ryan N. C.; … - 2019

, reduces world real GDP per capita by more than 7 percent by 2100. On the other hand, abiding by the Paris Agreement, thereby …

Persistent link: https://www.econbiz.de/10012112126

Macroeconomic outcomes in disaster-prone countries

Cantelmo, Alessandro; Melina, Giovanni; Papageorgiou, Chris - 2019

Using a dynamic stochastic general equilibrium model, we study the channels through which natural disaster shocks affect macroeconomic outcomes and welfare in disaster-prone countries. We solve the model using Taylor projection, a solution method that is shown to deal effectively with...

Persistent link: https://www.econbiz.de/10012112128

Carbon Taxes : Their Macroeconomic Effects and Prospects for Global Adoption: A Survey of the Literature

Gandhi, Ved P. - 1998

The carbon tax is a major instrument for curbing greenhouse gas emissions that cause global warming. Yet its adoption has been limited because of concerns over its effects on economic growth, income distribution, and international competitiveness. The paper shows that policymakers can minimize...

Persistent link: https://www.econbiz.de/10014403416

El Nino and World Primary Commodity Prices : Warm Water or Hot Air?

Brunner, Allan D. - 2000

This paper examines the historical effects of the El Niño-Southern Oscillation (ENSO) cycle on world prices and … economic activity. The analysis indicates that ENSO has economically-important and statistically-significant effects on world … inflation movements over the past several years. ENSO also has some explanatory power for world consumer price inflation and …

Persistent link: https://www.econbiz.de/10014403435

Financial regulation, climate change, and the transition to a low-carbon economy : a survey of the issues

Demekas, Dimitri G.; Grippa, Pierpaolo - 2021

There are demands on central banks and financial regulators to take on new responsibilities for supporting the transition to a low-carbon economy. Regulators can indeed facilitate the reorientation of financial flows necessary for the transition. But their powers should not be overestimated....

Persistent link: https://www.econbiz.de/10012794760