Traditional resource economics has been criticised for assuming too high elasticities of substitution, not observing material balance principles and relying too much on planner solutions to obtain long-term growth. By analysing a multi-sector R&Dbased endogenous growth model with exhaustible...

Production often causes pollution as a by-product. Once environmental degra- dation becomes too severe, regulation is introduced by which society forces the economy to make a transition to cleaner production processes. We model this transition as a change in "general purpose technology" and...

Climate economics has been criticized for ignoring uncertainty, catastrophic changes, and tipping points (Stern 2016). The present paper addresses these issues. We consider multiple climate shocks which are recurring, random, uninsurable, and potentially large. The associated damages and the...

The paper develops the Basic Climate Economic (BCE) model featuring the core elements of climate economics and climate policy. The BCE model incorporates fossil stock depletion, pollution stock accumulation, endogenous growth, and climate-induced capital depreciation. We first use graphical...

We derive the optimal contributions to global climate policy when countries differ with respect to income level and pollution intensity. Countries' growth rates are determined endogenously, and abatement efficiency is improved by technical progress. We show that country heterogeneity has a...

We analyze the impact of carbon prices on human capital accumulation, sectoral change, and economic growth. In our framework output is produced with dirty and/or clean technologies using skilled and unskilled labor as inputs. Carbon policy affects technology selection which transmits incentives...

Standard environmental economics prescribes policies which are optimal and implemented immediately. The paper argues that, in reality, environmental policy often deviates from the optimum and implementation is not deterministic but subject to major uncertainty and frequent change. We present a...

Economic and ecological systems are closely interlinked at a global and a regional level, offering a broad variety of challenging research topics in environmental and resource economics. The successful identification of key questions for current and future research supports development of novel...

Carbon taxes remain economists favoured policy tool to curb emissions, but are unpopular among segments of the populations. Theoretical and numerical work tends to show the effectiveness of carbon taxes, but ex-post empirical analyses are still rare. In this paper we attempt to bridge this gap....

This paper presents empirical results on coronavirus fatality rates from cross-country regressions for OECD countries. We include medical, environmental and policy variables in our analysis to explain the death rates when holding case rates constant. We find that the share of the aged...