The transition towards a carbon-neutral economy is a fundamental change, it involves not only transforming the energy sector but also radical reforms across the whole economy. Managing fundamental and wholesale change across such a large economy is a massive coordination challenge requiring the...

Lemoine and Rudik (2017) argue that it is efficient to delay reducing carbon emissions, because there is substantial inertia in the climate system. However, this conclusion rests upon misunderstanding the relevant climate physics: there is no substantial lag between CO2 emissions and warming,...