The damage function in the famous climate-economy model DICE has received much criticism. Weitzman (2010) has proposed an alternative approach that gives more serious attention to climate change impacts for larger temperature increases. We calculate optimal climate policy with DICE using this...

Using a non-cooperative climate policy game applied in the literature, we find that an agreement with international emissions trading leads to increased emissions and reduced efficiency.

This paper studies monopoly extraction of a nonrenewable resource with the presence of a competitively supplied capacity constrained renewable substitute. The monopolist staves off the renewable supply when the latter becomes competitive and then lets the resource price jump up.

We show that a variety of seemingly diverse concepts used to theoretically explaining the EKC have a common origin in two key preference and production elasticities. We also prove that they jointly correspond to a unique, underlying preference-technology theoretical framework.

Using LCV score data, we find that female legislators favor stricter environmental policies than do their male counterparts. Moreover, gender-corrected estimates suggest that voters do not push environmental policy towards the middle, but rather select the ideologically closest candidate.

This paper integrates the scale, composition, and technique effects of economic growth on pollution using a multi-output endogenous growth framework. Under certain empirically verifiable parameter conditions economic growth is not sustainable, even under an optimal pollution tax.

We show that two simple and nonintrusive ‘nudges’–reducing plate size and providing social cues–reduce the amount of food waste in hotel restaurants by around 20%. The results are statistically significant. They are also environmentally substantial as food waste is a major contributor to...

This paper applies a pairwise approach to investigate the validity of the law of one price in the crude oil markets. Price differentials appear smaller between crude oil pairs with similar physical/chemical characteristics and also for pairs within OPEC.

This paper employs panel methods that address/mitigate heterogeneity and cross-sectional dependence to determine the direction and sign of long-run causality between transport energy consumption per capita and real GDP per capita. Granger-causality was determined to run from GDP to energy.

We estimate three different models of speculative behaviour using oil price data. Our findings provide support for the claim by Phillips and Yu (2011) and Gilbert (2010) that a bubble in oil prices existed for a short period in 2008.