In this paper it is shown that climate models are characterized by uncertainty and its causes are pointed out. It is well known that a higher greenhouse gas concentration raises the radiative forcing of the earth and the physics behind it is well understood. However, as regards the feedback...

In this paper we show that both climate models and economic models studying the effects of climate change are characterized by high uncertainty. Hence, far reaching policy implications such as the net zero goal lack a definite scientific foundation. Neverthelss, it cannot be excluded that the...

Asset Prices, Booms and Recessions"" is a book on Financial Economics from a dynamic perspective. It focuses on the dynamic interaction of financial markets and economic activity. The financial markets to be studied here encompasses the money and bond market, credit market, stock market and...

The report Fiscal policies for a low-carbon economy makes an important contribution to our understanding of which fiscal policies work best and can be a guide to policy makers as they consider the most effective ways to achieve a low-carbon future. The report finds clear evidence that green...

In endogenous growth theory models exist which are characterized by local and global indeterminacy. These concepts imply that economies differ with respect to their growth rates on the transition path (local indeterminacy) as well as their long-run growth rates (global indeterminacy). While the...

In this paper we empirically analyze the effect of the vaccinations against the SARS-CoV-2 virus on the Covid-19 pandemic for European countries from February 2021 to February 2022 with weekly data. We perform panel fixed effects estimations, GMM estimations and nonlinear penalized spline...