The threat of climate change requires a rapid transition to a new, low-carbon style of economic development. How will the transition be financed? Most of the global potential for emission reduction is located in developing countries. Achieving this potential, plus adaptation to climate damages,...

More than 25 years after the discovery that the equilibrium point of a general equilibrium model is not necessarily either unique or stable, there is still a need for an intuitively comprehensible explanation of the reasons for this discovery. Recent accounts identify two causes of the finding...

The aim of this article is to outline the main effects of the 1978 agricultural reform and the consequent shift from collective land utilization to family household management (Household Responsibility System). Specific focus will be on the structural changes occurring in rural areas and on the...

Recent research paints an ominous picture of climate impacts on agriculture, in contrast to the relative optimism of research from the 1990s. Continued use of the earlier research findings, in economic models and policy analyses, contributes to an unwarranted complacency about the urgency of...

We examine the treatment of climate damages in the FUND model. By inserting software switches to turn individual features on and off, we obtain FUND's estimates for 15 categories of damages, and for components of the agricultural category. FUND, as used by the U.S. government to estimate the...