Cannabis is the most commonly used illicit drug worldwide. In countries with repressive drug policies, the costs of its prohibition plausibly outweigh the benefits. We conduct a cost-benefit analysis of cannabis legalization and regulation in the Czech Republic, taking into consideration...

Using a stacked differences-in-differences approach, we study the effects of Low Emission Zones (LEZs) in Germany. The implementation of stage 1 and 2 LEZs, which banned the most pollution-intensive vehicles from city centers, significantly reduced PM10 concentrations. The most restrictive third...

Carbon dioxide removal (CDR) is considered essential for climate change mitigation, yet its optimal role in climate policy remains unclear in the presence of non-permanent storage, energy constraints, and fossil fuel scarcity. We integrate CDR into an analytic integrated assessment model to...

This paper develops a welfare and public economics perspective on optimal policies for carbon removal and storage (CDR) in permanent and non-permanent sinks. Non-permanent CDR reduces mitigation costs, even though the stored carbon is released into the atmosphere eventually. It may serve as...

Carbon dioxide removal (CDR) is considered essential for climate change mitigation, yet its optimal role in climate policy remains unclear in the presence of non-permanent storage, en-ergy constraints, and fossil fuel scarcity. We integrate CDR into an analytic integrated assess-ment model to...

Climate change damages vary across countries, because of regional variation in climate metrics like temperature and regional variation in economic exposure. This is evident in the breakdown of the social cost of carbon: the country social cost of carbon (CSCC). While for the former a large...

Using the American Community Survey between 2005 and 2019, this paper investigates the role constraints to migration might play in explaining racial/ethnic disparities in the labor market. We find that Black workers are typically less responsive than White workers to changes in job...

Skills utilization is an important factor affecting labor productivity and job satisfaction. This paper examines the effects of skills mismatch, nepotism, and gender discrimination on wages and job satisfaction in MENA workplaces. Gender discrimination implies social costs for firms due to...

Background: The emissions of ships in ports are increasingly becoming an issue, and particularly those of NOx, SOx, and PM, rather than CO2. One realistic solution for reducing GHG emissions is cold ironing technology. This paper highlights the socio-economic impact of increasing utilization of...

Access to accurate and reliable information on the cost of COVID-19 is essential for informed socio-economic policy decisions. This paper analyses the economic costs associated with the COVID-19/SARS-CoV-2 pandemic, with a particular focus on Australia. This study examined both the macroeconomic...

We introduce the first comprehensive publicly available dataset on county-level damages, injuries, and fatalities from natural disasters in the U.S. and present a few facts on the economic and human costs of extreme climate events. Our source is the National Oceanic and Atmospheric...

Understanding the economic costs attributable to unhealthy diets is essential for advocating health and agrifood investments in low- and middle-income countries (LMICs) experiencing nutrition transitions. These costs encompass direct and hidden expenses, including absenteeism, presenteeism, and...

Climate change and its two-way relation with economic activity is stochastic and so is therefore the optimal tax internalizing the climate externality. But with capital irreversibility a stochastic time path for carbon prices slows down the reallocation from brown to green sectors because...

Most disaster risk assessments use damages to physical assets as their central metric, often neglecting distributional impacts and the coping and recovery capacity of affected people. To address this shortcoming, the concepts of well-being losses and socio-economic resilience-the ability to...

We develop a strategy to measure the economic costs of poorly written laws, a potential threat to the rule of law. Using the full corpus of Italian legislation, we show that legal uncertainty - measured by the probability of disagreement between the Supreme Court of Cassation and lower courts -...

Environmental legislation, when implemented and enforced, will deliver improvements for environmental health, human health, and society and the economy more broadly. Where relevant legislation is not implemented as planned and targets are not met, such benefits are foregone. This study has...

Environmental legislation, when implemented and enforced, will deliver improvements for environmental health, human health, and society and the economy more broadly. Where relevant legislation is not implemented as planned and targets are not met, such benefits are foregone. This study has...

We study occupational stress, from its initial symptoms to permanent productivity loss, using Swedish administrative data. Stress symptoms emerge and steadily intensify over a year, culminating in a tipping point of burnout. High-stress occupations do not see higher burnout rates among...

We implement Pigovian transport pricing in a field experiment in urban agglomerations of Switzerland over the course of 8 weeks. Our pricing considers the external costs from climate damages, health outcomes from pollution, accidents and physical activity, and congestion. It varies across time,...

Beyond its environmental damage, climate change is predicted to produce significant economic costs. Combining novel high-frequency geospatial temperature data from satellites with measures of economic activity for the universe of US listed firms, this article examines a potentially important...

This paper uses results from leading biophysical models in an established macro-economic modeling framework to offer insights on potential economic consequences of climate change in Asia and the Pacific. The analysis covers shocks in agriculture, fisheries, forestry, energy demand, capital (from...

How do financial markets respond to anticipated climate-driven wildfire risk? Using high-resolution meteorological forecasts, land use data, and U.S. municipal bond spreads, we find that municipalities facing greater future wildfire exposure already incur higher borrowing costs: A one standard...

The new loss and damage funding framework under the United Nations Framework Convention on Climate Change (UNFCCC) emphasises the importance of channelling support through national systems and mechanisms. This approach could prove particularly challenging for African least developed ountries...

This paper shows that even moderate air pollution levels, such as those in Europe, harm the economy by reducing firm performance. Using monthly firm-level data from France, we estimate the causal impact of fine particulate matter (PM2.5) on sales and worker absenteeism. Leveraging exogenous...

As climate changes and natural disasters intensify, the threat of human displacement increases. This paper studies carbon taxation in the presence of international climate displacement. After providing evidence on the migration response to disasters, forced climate migration is introduced into a...

Using surveys of households across thirteen countries, we study how much individuals would be willing to pay to eliminate business cycles. These direct estimates are much higher than traditional measures following Lucas (2003): on average, households would be prepared to sacrifice around 5-6% of...