We study a dynamic stochastic general equilibrium model in which agents are concerned about model uncertainty regarding climate change. An externality from greenhouse gas emissions damages the economy's capital stock. We assume that the mapping from climate change to damages is subject to...

We develop a dynamic general equilibrium integrated assessment model that incorporates costs due to new technology adoption in renewable energy as well as externalities associated with carbon emissions and renewable technology spillovers. We use world economy data to calibrate our model and...

We study a dynamic stochastic general equilibrium model where agents are concerned about model uncertainty regarding climate change. An externality from greenhouse gas emissions adversely affects the economy's capital stock. We assume that the mapping from climate change to damages is subject to...

We study the effect of technological progress on the optimal transition to a renewable energy-fueled world economy. We develop a dynamic general equilibrium model where energy is used as an input in production and can come from fossil or renewable sources. Both require the use of capital, which...

We study the relationship between innovation and horizontal differentiation in a continuous-time dynamic duopoly. At any instant firms compete in prices in a Hotelling game. They may be differentiated both in terms of product quality (for which consumers have homogeneous tastes) and product...

We develop a dynamic general equilibrium integrated assessment model thatincorporates costs due to new technology adoption in renewable energy as wellas externalities associated with carbon emissions and renewable technologyspillovers. We use world economy data to calibrate our model and...