We calculate the social cost of carbon (SCC) under stochastic climate volatility resulting from uncertainty about future climate risk regimes where weather extremes are becoming more frequent and intense. Using a stochastic dynamic integrated climate-economy model where representative agents are...

This paper empirically studies how emission pricing affects capital replacement and adoption of embodied environmental technology. A pricing policy encourages firms to accelerate retirement of old capital assets and replace them with newer more efficient assets, but this may crowd out...

It is clear that the future of the transport sector is fraught withuncertainties, as the system can be influenced by many factors thatcan develop in various ways. The aim of this paper is to gain insightinto the future development of the transportation sector. It presentsthe development of the...