A long tradition in economics explores the association between the quality of formal institutions and economic performance. The literature on the relationship between such institutions and happiness is, however, rather limited. In this paper, we revisit the findings from recent cross-country...

In this paper, we revisit the association between happiness and inequality. We argue that the perceived fairness of the income generation process affects this association. Building on a two-period model of individual life-time utility maximization, we predict that persons with higher perceived...

The relationship between the abundance of natural resources and socio-economic performance has been a main object of study in the economic development field since Adam Smith. Dominated by the verification of the so called curse of natural resource, the mainstream literature on the topic has been...

This paper presents a novel way to disentangle inequality aversion over time from inequality aversion between regions in the computation of the Social Cost of Carbon. Our approach nests a standard efficiency based Social Cost of Carbon estimate and an equity weighted Social Cost of Carbon...

Using a panel fixed effects model for a sample of 121 countries covering 1975 -2005, we examine how financial development, financial liberalization and banking crises are related to income inequality. In contrast with most previous work, our results suggest that all finance variables increase...

Uncertainty is prevalent in the context of climate change impacts. Moreover, the distribution across the globe is not uniform. We analyze how climate risks could be reduced via an insurance scheme at the global scale across regions and quantify the potential welfare gains from such a scheme....

This paper uses Lorenz Curve and Gini Index with adjustment to per capita historical cumulative emission and constructs Carbon Gini Index to measure inequality in climate change area. The analysis using Carbon Gini Index shows that 70% of carbon space in the atmosphere has been used for unequal...

The paper traces the evolution the concept of socioeconomic vulnerability to climate change has followed in the academic and scientific debate. The recent recognition of vulnerability as a social construction has shifted the focus of the analysis on the dimension of adaptive capacity, i.e. the...

This paper studies the incentives for international cooperation if (some) countries prefer a more equitable distribution of per capita emission levels. The impact of such an equity preference is analyzed first for a bilateral, and then for a multilateral environmental problem. We show that -...

This paper analyses stability of coalitions for greenhouse gas abatement for different sharing rules applied to the gains from co-operation. We use a 12-regions model designed to examine internal and external stability of coalitions (STACO). We compare different sharing rules like, for example,...