Solar radiation management (SRM) could quickly offset global warming caused by anthropogenic greenhouse gas emissions. Because SRM would have global side effects, it raises not only technological but also political and social concerns. Therefore, SRM research should be accompanied by a global...

To justify substantial emission reductions, recent literature on cost-benefit analysis of climate change suggests discounting environment consumption with an environmental discount rate instead of a consumption discount rate that is usually used in cost-benefit analysis. The present study...

The paper analyzes the effects of a source-based capital income tax on production and market structures, trade and capital flows as well as national and global welfare. The analysis is carried by means of a general equilibrium model of trade which incorporates international capital flows as well...

Climate engineering (CE) and carbon capture and storage sub-seabed (CCS-S) are currently controversially debated options to address climate change. Our paper provides empirical evidence on the public perception of two different CE measures, namely, stratospheric sulphate injection (SSI) and...

The author analyzes the optimal investment in environmental protection in a model of an infinite series of non-overlapping hyperbolically discounting agents. He shows that without a commitment mechanism society is eventually stuck in a situation where all agents prefer further investment in the...

The Environmental Liability Act (Umwelthaftungsgesetz) enacted January 1, 1991 is claimed to have substantially tightened the environmental liability regime in Germany. The economic consequences of the amendment of the German environmental liability legislation initiated by the Sandoz accident...

In providing precautionary incentives and allocating environmental risk, liability for environmental damages faces two difficulties: randomness of damages incurred and nonobservability of precautionary measures. Hence, a major obstacle in enforcing legal claims is the difficulty of proving...

This paper derives analytically the growth rate of the social cost of carbon (SSC) on an optimal balanced growth path. More specifically, the paper examines a deterministic Ramsey model of optimal economic growth with carbon emissions. In this model, restrictions on technology and preferences...

The efficiency of the Pigouvian tax suggests that price-based regulation is the proper benchmark for efficient regulation. However, results due to Carlton and Loury (1980, 1986) question this; when harm depends on scale effects a pure Pigou tax is inefficient regulation in the long run. In this...

This paper derives the social cost of carbon (SCC) and its rate of change. It does so in a deterministic Ramsey model of optimal economic growth with carbon emissions from burning fossil fuels. It is shown that the determinants of the rate of change of the SCC are substantially almost identical...