We develop a dynamic regulation game for a stock externality under asymmetric information and future market uncertainty. Within this framework, regulation is characterized as the implementation of a welfare-maximization program conditional on informational constraints. We identify the most...

The objective of this paper is to critically assess the use of simple rules for the social cost of carbon (SCC) that employ a rudimentary form of the Ramsey Rule. Two interrelated caveats apply. First, if climate change poses a serious problem, it is hard to justify an exogenous constant growth...

We develop a financial-economic model for carbon pricing with an explicit representation of decision making under risk and uncertainty that is consistent with the Intergovernmental Panel on Climate Change’s sixth assessment report. We find that this approach provides economic support for the...

Understanding the effectiveness of social distancing on the spread of COVID-19 is crucial to justify economically costly social distancing measures. We present a case study focusing on the three Scandinavian countries. Whereas Denmark and Norway imposed relatively strict measures, Sweden follows...

We study the health effects of the spread of democratic institutions and the extension of voting rights in 15 European countries since the middle of the nineteenth century. We employ both cross country and cohort variation in heights and employ a new instrument for democracy and the extension of...

Within the frame of the Nordic welfare model, pension system design has taken very different routes. While the overall aims in terms of distribution and replacement rates are similar, the division of labour between defined benefit and contribution as well as pay-as-you-go versus funded schemes...

The purpose of this study is to examine the impact of air pollution (measured by satellite data of Aerosol Optical Depth (AOD)) on net outmigration. Using data from the 2011 and 2016 National Population and Housing Censuses for 31 provinces of Iran and applying a panel fixed effects estimation...

Limiting global warming in line with the goals in the Paris Agreement will require substantial technological and behavioural transformations. This challenge drives many of the current modelling trends. This paper undertakes a review of 17 state-of-the-art recursive-dynamic computable general...

We study the impact of short-term exposure to ambient air pollution on the spread and severity of COVID-19 in Germany. We combine data on county-by-day level on confirmed cases and deaths with information on local air quality and weather conditions and exploit short-term variation in the...

This paper develops a model with an endogenous number of cities to explore whether local governments establish the optimal city size when key activities in the city are associated with emissions that harm consumers. In contrast to extant research, our model is fully micro-founded with respect to...