Environmental challenges, and the potential solutions to address them, have a direct effect on living standards, the organization of economies, major infrastructures, and modes of urbanization. Since the publication of path-breaking contributions on the governance of environmental resources in...

The Stern Review constitutes today the most complete and didactic synthesis of the economics of climate change. Despite appearances, it is not, however, a simple reference manual. Its most attractive feature is the author’s commitment to action in the face of climactic risk. The report’s...

Global warming reveals that the current evolution of the world consumption is on an unsustainable path. Humankind's insatiable appetite for energy has sparked a new crisis. In a world where climate change has become a proven reality, there lies a deep uncertainty about the physical, economic and...

Since the publication of the Stern Review, economists have started to ask more normative questions about climate change. Should we act now or tomorrow ? What is the best theoretical carbon price to reach long-term abatement targets? How do we discount the long-term costs and benefits of climate...

In a world where climate change has become a proven reality, it is clear that global energy consumption is currently on an unsustainable path. Humankind's insatiable appetite for energy has sparked a new crisis, and there is a deep uncertainty about what the long term physical, economic and...

We investigate the relative efficiency of an agreement based on a uniform standard without transfers and one based on differentiated standards with transfers when strictly identical countries deal with transboundary pollution. We especially ask what role fixed cost plays. Two approaches are...

This article critically examines the EU ETS intertemporal market during its Phase I (2005-2007). We test the Hotelling rule as a key element of a competitive equilibrium to validate whether allowance prices rise at the same rate as the interest rate. Including readily observable characteristics...

Les mécanismes du marché ne pourront résoudre qu'une part du défi climatique : la taxe carbone s'avère nécessaire pour impliquer tous les émetteurs, petits et grands. Comment voyez-vous le marché global du carbone évoluer dans les années à venir ? Il va certainement bien se...