Many economic sectors, like housing or transportation, are exposed to climate and likely to suffer efficiency losses when climate changes. The global economy is far from dematerialized yet, these sectors represent a significant fraction of the existing capital stock. Using an optimal growth...

This paper examines the consequences of various attitudes towards climate damages through a family of stochastic optimal control models (RESPONSE): cost-efficiency for a given temperature ceiling; cost-benefit analysis with a "pure preference for current climate regime" and full cost-benefit...

This paper studies uncertainty about the non-linearity of climate change impact. The DIAM 2.3 model is used to compute the sensitivity of optimal CO2 emissions paths with respect to damage function parameters. This builds upon results of the EMF-14 uncertainty subgroup study by explicitly...

Eleven countries in Latin America and the Caribbean have committed to achieving net-zero emissions by 2050. Changes in the food system are critical to achieving these carbon neutrality goals, as agriculture and the resulting land use changes are responsible for almost half of the greenhouse gas...

Eleven countries in Latin America and the Caribbean have pledged to reach net-zero emissions by around 2050. Changes in the food system are key to reach these carbon neutrality goals, as agriculture and resulting land-use changes are responsible for almost half of greenhouse gas emissions in the...

Given disparate beliefs about economic growth, technical change and damage caused by climate change, this paper starts with the seeming impossibility of determining a unique time profile of the social costs of carbon as a benchmark for climate negotiations and for infrastructure decisions that...

This paper aims at providing a consistent framework to appraise alternative modeling choices that have driven the so-called "when flexibility" controversy since the early 1990s dealing with the optimal timing of mitigation efforts and the Social Cost of Carbon (SCC). The literature has...